Comet eyes ₹98.75 crore Series B at an estimated ₹535 crore valuation
Bengaluru-based sneaker brand Comet is reportedly raising ₹98.75 crore in a Verlinvest-led Series B, with Elevation Capital and Nexus Venture Partners also participating. The proposed round would value the D2C brand at about ₹535 crore and fund working capital and capex.
What happened
Bengaluru sneaker D2C brand Comet plans to raise Rs 98.75 crore in a Verlinvest-led Series B, valuing it at about Rs 535 crore. Funding will support working
Key facts
- Rs 98.75 crore ($10.2 million) Series B round
- Rs 13,983 issue price per share
- Rs 61.73 crore investment by Verlinvest
- Rs 17.90 crore each by Elevation Capital and Nexus Venture Partners
- Rs 535 crore ($56 million) estimated valuation
- 3.2x valuation increase
- FY25 revenue Rs 29 crore
- FY25 loss Rs 4.39 crore
Why this matters
Verlinvest, Elevation and Nexus backing positions Comet as a scaled D2C footwear platform worth monitoring for partnerships, distribution alliances or future strategic optionality.
What to watch
- Formal closing terms, final round size and whether the ₹535 crore valuation is pre-money or post-money.
- Evidence that capital is allocated primarily to inventory and capex rather than sustained discount-led customer acquisition.
- Store openings, offline partnerships and geographic expansion beyond major metros.
- Revenue growth, gross margin, inventory days, repeat rate and FY26 loss trajectory.
- New footwear funding rounds or valuation step-ups among Indian D2C sneaker and casual-footwear competitors.
- Any shift from limited-drop positioning toward broader mass-premium distribution, which could test brand exclusivity.
- Expand core sneaker assortment across more colorways, price points and adjacent categories such as apparel, accessories or performance-inspired footwear.
- Use working capital to reduce stockouts in high-demand SKUs and build faster replenishment with domestic manufacturing partners.
- Accelerate selective offline distribution through own stores, shop-in-shops and multi-brand sneaker retail to improve trial and brand visibility.
- Increase creator, community and drop-led marketing, likely intensifying competition for culturally relevant collaborations and social media reach.
- Invest in supply-chain, demand-planning and customer-retention capabilities to improve repeat purchase economics before the next fundraise.