Comet approves ₹98.75 crore Series B at estimated ₹535 crore valuation
Bengaluru sneaker D2C brand Comet has approved a proposed ₹98.75 crore Series B led by Verlinvest, with Elevation Capital and Nexus Venture Partners participating. The round implies an estimated ₹535 crore valuation, about 3.2x its post-Series A level.
What happened
Bengaluru sneaker D2C brand Comet has approved a Rs 98.75 crore Series B round led by Verlinvest, valuing it at an estimated Rs 535 crore. Funds will support
Key facts
- Rs 98.75 crore ($10.2 million) proposed raise
- Rs 535 crore ($56 million) estimated valuation
- 3.2x valuation increase from Rs 167 crore post-Series A valuation
- Verlinvest: Rs 61.73 crore
- Elevation Capital: Rs 17.90 crore
- Nexus Venture Partners: Rs 17.90 crore
- FY25 revenue: Rs 29 crore, nearly 4x growth
- FY25 loss: Rs 4.39 crore
Why this matters
Comet’s elevated valuation and strengthened investor base make it a more credible strategic partner or future acquisition candidate for consumer, fashion and footwear groups seeking Indian D2C exposure.
What to watch
- Final closing, tranche structure and any revised valuation disclosed in regulatory filings.
- Revenue growth, repeat-purchase rates, gross margin and contribution-margin trajectory after the raise.
- Inventory turns, sell-through rates and frequency of stockouts or markdowns.
- Number and productivity of offline doors, pop-ups or owned stores.
- New collaborations, category expansion beyond sneakers and manufacturing/sourcing investments.
- Follow-on fundraising or strategic partnerships by domestic D2C footwear rivals.
- Expand core sneaker assortment, colorways and limited-edition collaborations.
- Increase inventory depth and improve fulfillment to reduce stockouts around launches.
- Test or expand physical retail through pop-ups, shop-in-shops and flagship locations.
- Deploy more performance marketing while building community-led and creator-led demand.
- Hire for merchandising, supply chain, retail operations and brand leadership.