Neeman’s, an India-based direct-to-consumer (D2C) brand for sustainable footwear, is about to get new funds, showing that investors are still interested in eco-friendly consumer businesses.
The business, located in Hyderabad, plans to get ₹35.5 crore in a Series B2 funding round. This adds to its earlier Series B raise from June 2022. This new funding shows that investors still trust brands that focus on being eco-friendly and selling online, especially in India’s growing D2C market.
According to official papers, Neeman’s board gave the okay to issue 54,915 Series B2 preference shares at ₹6,465 each, to raise ₹35.50 crore. The business also plans to give 5,414 partly paid shares to its co-founders, Taranjeet Singh Chhabra and Amar Preet Singh, who will both invest the same amount. The founders’ involvement shows they are confident in the brand’s plans.
Snam Solutions, supported by investor Muralidhar Dhuddu, is leading the Series B2 round with a planned investment of ₹16 crore. Other investors include Grand Anicut, planning to invest ₹7 crore, and Sharrp Ventures with ₹5 crore. Other investors will contribute ₹7.5 crore together. After this round, Neeman’s is expected to be worth about ₹439 crore (around $49 million), making it a key sustainable D2C startup.
Neeman’s was started in 2017. The brand makes eco-friendly shoes from things like merino wool, recycled plastics, and natural fibers. Neeman’s has a strong online presence through its D2C platform and is growing its physical retail locations.
The money raised will go towards improving working capital and operations. This follows current D2C market trends, where brands focus on a strong supply chain, good inventory, and careful growth, instead of just trying to get more customers. With more competition in D2C fashion and lifestyle, good operations and managing money are very important.
Neeman’s has improved its finances as it has grown. In FY24, the company’s revenue increased by 11.4% to ₹76.94 crore, from ₹69.05 crore in FY23. Net losses went down by 14% to ₹29.23 crore from ₹33.98 crore the year before. While FY25 numbers are not yet available, the Series B2 funding suggests the business is getting ready for more growth with careful financial management.
So far, Neeman’s has raised over $17 million in funding. After this round, Grand Anicut is expected to own 8.63%, while Enam Investments, Snam Solutions, and Sharrp Ventures will own 4.76%, 3.64%, and 3.51% respectively. The ownership changes show that investors are still supporting sustainable D2C brands in India.
Overall, Neeman’s Series B2 round shows that investors still want to invest in sustainable brands that are also good at business. As more people want eco-friendly products and online brands grow, Neeman’s is in a good position to succeed in India’s D2C market, while being careful with its operations in a competitive market.
