Neeman’s, an Indian sustainable footwear brand, has raised about ₹35.5 crore through a fresh tranche of Series B funding, reflecting renewed investor confidence in the direct‑to‑consumer (D2C) footwear sector as the company scales its operations and sharpens its focus on sustainable product offerings.
Funding round and investor mix
The latest infusion was executed via Series B2 compulsorily convertible preference shares and forms part of a Series B round that began in mid‑2022. The round was led by Snam Solutions and saw participation from investors including Grand Anicut, Sharrp Ventures, along with a mix of individual and institutional backers.
Founders Taranjeet Singh Chhabra and Amar Preet Singh also subscribed to equity in the round, a move that typically signals strong promoter conviction and often reassures external investors in a competitive consumer category.
Valuation and use of proceeds
Post‑raise, Neeman’s is estimated to be valued at around ₹439 crore, a noticeable uplift from prior funding stages. The company plans to deploy the fresh capital towards working capital, operational expansion and strengthening core business functions such as inventory planning, marketing and customer acquisition—areas critical to success in the online‑first footwear market.
Financial performance and operational trajectory
Neeman’s reported operating revenue of nearly ₹77 crore in FY24, an 11.4% year‑on‑year increase. The company has also narrowed net losses, pointing to improved cost controls and operational efficiency. For D2C startups, sustaining growth while moving toward profitability remains challenging, but these metrics suggest Neeman’s business model is maturing.
Brand positioning and market strategy
Founded in 2017 and headquartered in Hyderabad, Neeman’s has built its brand around eco‑friendly, comfort‑led footwear, using materials such as merino wool, organic cotton and recycled inputs. The company’s sustainability narrative targets environmentally conscious urban consumers and differentiates it in a crowded market.
Neeman’s operates mainly on a D2C model, strengthening online engagement while gradually expanding offline retail to cater to customers who prefer in‑store trials. This hybrid approach supports both customer acquisition and retention as the brand scales.
Outlook
With fresh capital, Neeman’s is expected to accelerate product innovation, optimise its supply chain and broaden market penetration across India. The fundraise underscores investor interest in consumer brands that marry sustainability with functional design and disciplined operations, and positions Neeman’s to pursue category expansion and deeper customer engagement in the coming years.
