Neeman’s, an Indian sustainable footwear brand, has raised about ₹35.5 crore through Series B2 compulsorily convertible preference shares as part of its ongoing Series B round, underscoring renewed investor confidence in India’s direct-to-consumer footwear sector.
Founders, new and existing investors back the round
The funding round attracted participation from a mix of new and existing investors, led by Snam Solutions, with contributions from Grand Anicut, Sharrp Ventures and a cohort of individual and institutional backers. Founders Taranjeet Singh Chhabra and Amar Preet Singh also subscribed to equity in the latest tranche, a move that typically reassures stakeholders about management’s commitment.
Valuation and intended use of proceeds
Following the infusion, Neeman’s valuation is estimated at around ₹439 crore, marking an uptick from prior funding stages. The company plans to deploy the fresh capital for working capital, operational expansion and to bolster core business activities such as inventory management, marketing and customer acquisition.
Financial trajectory points to improving stability
Neeman’s reported operating revenue of nearly ₹77 crore in FY24, an 11.4% year‑on‑year increase, and has narrowed net losses amid tighter cost control. For D2C startups, sustaining growth while improving unit economics is a key challenge; the brand’s recent metrics suggest progress toward a more mature operating model.
Brand positioning and go‑to‑market strategy
Founded in 2017 and based in Hyderabad, Neeman’s has built its proposition around sustainability and comfort, using materials such as merino wool, organic cotton and recycled inputs. The company operates primarily on a direct‑to‑consumer model while gradually expanding offline retail to serve customers who prefer in‑store experiences.
Outlook
With fresh funds secured, Neeman’s is likely to intensify product innovation, supply‑chain optimisation and category expansion while focusing on customer retention and pan‑India market penetration. The raise highlights continued investor appetite for consumer brands that combine sustainability, product differentiation and disciplined execution.
