Comet raises ₹100 crore in Series B led by Verlinvest to scale retail and product development

# The deal in brief Comet, a Bengaluru-based sneaker brand founded in 2023, raised ₹100 crore in a Series B round led by Verlinvest. Existing backers Elevation Capital and Nexus Venture Partners took part and increased their stakes. A group of angel investors including Abhiraj Singh Bhal, Ajit Mohan and Anand Ahuja also participated.

# Why the funding matters Comet plans to use the fresh capital across three named priorities: retail expansion, technology and product development, and research and development. The company says retail has become a major growth channel, and it intends to convert that momentum into a larger physical presence across Indian cities.

# Growth and product roadmap Comet currently sells four footwear models and has set a clear product goal: reach eight models by the end of next year. On retail, the company expects to reach 10 stores in September 2026 and is targeting 20 stores by the end of FY27. The funding is also earmarked for developing proprietary sole models and the tooling needed to bring new footwear to market.

# Investors and signal to the market

# What the company says Co-founder Utkarsh Gupta described retail as a significant growth driver for Comet, noting that their stores have outperformed the broader athleisure category in the markets where they operate. That performance underpins the company's plans to scale its physical footprint.

# Immediate milestones to watch

• Retail: reach 10 stores in September 2026 and 20 stores by end of FY27.

• R&D: invest in sole designs and tooling to support new models.

# Context in the sector Recent funding rounds in the broader apparel and athleisure space have emphasized retail expansion and product R&D. Comet's raise follows an earlier Series A led by Elevation Capital in 2024 and rapid revenue growth reported in related coverage since that round.

# Practical takeaways for readers If you follow retail-funded growth stories, Comet is prioritizing physical expansion backed by venture capital and angel investors with consumer tech and D2C experience. The company is executing a paired strategy of expanding store count while increasing its product range and building in-house technical capabilities for footwear.

# Bottom line Comet secured a ₹100 crore Series B to scale stores, broaden its product catalogue, and build manufacturing- and design-related capabilities. The round includes a mix of institutional and experienced angel investors and sets explicit near-term targets for store count and product range.