D2C Brand Neeman’s Raises $4 Mn To Expand Offline Presence

D2C footwear brand Neeman’s has raised $4 Mn (around INR 35 Cr) in its Series B2 funding round led by SNAM Group, via its investment arm SNAM Solutions.

While SNAM Group invested INR 16 Cr, existing investors Anicut Capital, ENAM Investments and Sharrp Ventures also participated in the round.

The startup plans to use the fresh capital to expand its offline footprint by adding more stores, and strengthen its online operations. It also aims to improve supply chain efficiency as it scales.

Neeman’s claims to be on track to close FY26 with a revenue of around INR 180 Cr, while targeting INR 500 Cr in annual revenue over the next two years, driven by store expansion and higher repeat demand.

Founded in 2017 by Taranjeet Singh Chhabra and Amar Preet Singh, Neeman’s sells footwear through its own website, ecommerce and quick commerce platforms, and offline stores, with a focus on everyday comfort and sustainability.

Prior to this, the startup had raised $9.8 Mn from investors like Sixth Sense Ventures, Anicut Capital, and Stride Ventures to date.

Neeman's Funding Snapshot

Source: Inc42 Datalabs

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In 2022, Neeman’s also featured in Inc42’s flagship ‘Fast42’ list. The startup competes with D2C footwear startups like Comet, Gully Labs, Bacca Bucci, The Souled Store, among others, in the country’s rapidly growing footwear market. 

This contrasts with global trends, where the sneaker industry is facing a slowdown, particularly in sneaker reselling marketplaces. Spotting an opportunity, new sneaker brands in India are focusing on local preferences – an area where global brands have struggled to deliver.

For instance, most global sneaker brands follow a one-size-fits-all approach, which often fails in India, where consumers typically have wider feet than their European or American counterparts. To address these issues, homegrown brands such as Banjaaran Studios and Gully Labs are designing products specifically for Indian consumers.