Indian sustainable footwear brand Neeman’s has raised fresh capital from a mix of new and existing investors, marking another key milestone in its growth journey. The funding forms part of the company’s ongoing Series B round, which originally began in mid-2022, and highlights growing investor confidence in India’s direct-to-consumer footwear space.
The latest infusion was completed through the issuance of Series B2 compulsorily convertible preference shares, helping Neeman’s raise around ₹35.5 crore. In a strong signal of belief in the business, the company’s founders — Taranjeet Singh Chhabra and Amar Preet Singh — also participated in the round by subscribing to equity shares. Founder participation often reassures investors, especially in a competitive consumer category like footwear.
Multiple Investors Back the Brand’s Growth Plans
The round saw participation from several investors, led by Snam Solutions. Other notable backers included Grand Anicut and Sharrp Ventures, along with a group of individual and institutional investors. With this raise, Neeman’s is estimated to be valued at approximately ₹439 crore, reflecting a clear uplift compared to earlier funding levels.
The fresh capital is expected to be deployed towards working capital needs, operational expansion, and strengthening core business activities. As competition intensifies in the online-first footwear market, access to capital plays a critical role in inventory planning, marketing efficiency, and customer acquisition.
Improving Financial Performance Signals Stability
Neeman’s financial performance has shown steady progress over the last fiscal year. The company reported an 11.4% year-on-year increase in operating revenue, reaching nearly ₹77 crore in FY24. Alongside revenue growth, the brand has also managed to narrow its net losses, indicating tighter cost control and improving operational efficiency.
For D2C startups, balancing growth with profitability remains challenging, especially amid fluctuating consumer demand and rising acquisition costs. Neeman’s ability to improve its financial metrics while continuing to scale suggests a maturing business model.
Built on Sustainability and Comfort
Founded in 2017 and headquartered in Hyderabad, Neeman’s built its brand around eco-friendly and comfort-focused footwear. The company is known for using materials such as merino wool, organic cotton, and recycled inputs, appealing to environmentally conscious consumers across urban India.
Operating primarily on a D2C model, Neeman’s has strengthened its online presence over the years while also gradually expanding into offline retail. This hybrid approach allows the brand to reach customers who prefer in-store trials while maintaining strong digital engagement.
What Lies Ahead for Neeman’s
With fresh funding in place, Neeman’s is expected to step up efforts around product innovation, supply chain optimisation, and wider market penetration. The brand is also likely to double down on category expansion and customer retention as it scales operations across India.
The latest fundraise once again underlines strong investor interest in Indian consumer brands that combine sustainability, functionality, and strong branding. As Neeman’s enters its next phase of growth, it stands as an example of how niche-driven D2C startups can attract long-term capital by staying focused on product quality and operational discipline.