Indian footwear brand Neeman’s has secured $4 million, or roughly Rs 35.5 crore, in a Series B2 funding round as it sharpens its focus on scale, store expansion, and profitability in a fast-growing market.
The round was led by SNAM Group of Companies through its investment arm SNAM Solutions. Existing backers Anicut Capital, Enam Investments, and Sharrp Ventures, the family office of Marico founder Harsh Mariwala, also participated, the company said in a statement.
Founded in 2017 by Taranjeet Singh Chhabra and Amar Preet Singh, Neeman’s has built its brand around sustainable materials and everyday footwear positioned at the affordable premium end of the market. The fresh capital will be deployed to widen the company’s physical retail footprint, strengthen its digital channels, and invest further in supply chain and backend capabilities.
Neeman’s is currently scaling its omnichannel model, combining direct-to-consumer online sales with a growing network of offline stores. The company said its expansion strategy is centred on disciplined growth, with a clear emphasis on unit economics and operational efficiency rather than rapid, cash-intensive scale.
On the financial front, Neeman’s is targeting revenue of around Rs 180 crore in FY26. Over the next two years, it aims to grow its topline to nearly Rs 500 crore, driven by new store additions, deeper penetration across key urban markets, and expansion of its product portfolio.
The fundraise comes amid sustained momentum in India’s footwear sector, which continues to post double-digit growth on the back of rising discretionary spending, wider brand adoption beyond metros, and increasing demand for value-driven premium products across both online and offline channels.
Investors said Neeman’s has shown the ability to build a differentiated brand while keeping a close watch on costs, a combination that is becoming increasingly important in India’s consumer startup ecosystem.
With fresh capital in hand, Neeman’s is now looking to consolidate its position as it competes with both legacy footwear players and new-age digital-first brands in an increasingly crowded market.
