Comet raises ₹100 crore Series B to accelerate sneaker retail expansion

Bengaluru-based D2C sneaker brand Comet has raised a ₹100 crore Series B led by Verlinvest. The company plans to invest in store expansion, product development and technology, targeting 10 stores this month and 20 by the end of FY27.

— Source publishedFri, 4 Sept, 2026, 17:55 IST·First seen Fri, 4 Sept, 2026, 17:56 IST·Source Entrackr

What happened

Bengaluru-based D2C sneaker brand Comet raised Rs 100 crore in a Verlinvest-led Series B to expand retail, product development and technology. It targets 10

Key facts

  • Rs 100 crore Series B round
  • Rs 535 crore estimated valuation
  • Rs 167 crore post-money valuation after 2024 Series A
  • four current footwear models
  • eight models planned by end of next year
  • 10 stores targeted this month
  • 20 stores targeted by end of FY27
  • FY25 revenue of Rs 29 crore
  • FY25 loss of Rs 4.39 crore
  • ninefold revenue growth since previous institutional fundraise

Why this matters

Comet’s funded store rollout makes it a more consequential potential partner, competitor or acquisition target for footwear groups seeking exposure to India’s fast-growing sneaker market.

What to watch

  • Whether Comet reaches 10 stores on schedule and discloses the first expansion locations.
  • Store-level sales productivity, repeat-purchase rates and evidence of online sales lift in cities with new outlets.
  • New product-category launches beyond core sneakers and their contribution to average order value.
  • Signs of additional hiring, warehouse investment, technology upgrades or celebrity/collaboration-led launches.
  • Any change in rollout pace, discount intensity, cash burn or follow-on fundraising before the FY27 target.
  • Prioritize stores in Bengaluru, Mumbai, Delhi NCR, Hyderabad and other high-density sneaker markets before expanding to smaller cities.
  • Build exclusive in-store launches, limited-edition drops and community events to make stores demand-generation channels rather than only transaction points.
  • Invest in inventory planning, size availability and omnichannel fulfillment to avoid stockouts and markdown risk as the store network grows.
  • Use Series B credibility to strengthen wholesale, marketplace and brand-partnership discussions while retaining D2C margin discipline.
  • Recruit retail operations, merchandising and technology leadership ahead of the planned store rollout.

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