Comet Raises $5M in Funding

Comet, a lifestyle sneaker brand, has recently secured significant funding in its Series A round:

• Startup Stardom: Founded in 2022 by Utkarsh Gupta and Dishant Daryani, Comet has quickly made waves as a Bengaluru-based lifestyle sneaker brand.

• Series A Funding: Comet raised Rs 42.3 crore ($5 million) with Elevation Capital as a key investor, acquiring 10 equity shares and Rs 33.35 crore worth of compulsorily convertible preference shares (CCPS).

• Style Statement: Comet rocks the scene with retro-styled sneakers and trendy slip-on sandals, all up for grabs on their website.

• Market Positioning: Priced competitively at an average of Rs 4,299 per pair, Comet competes with global giants like Nike and Indian footwear leaders such as Redtape, Campus, and Sparx.

This funding round signifies a pivotal moment for Comet as it aims to strengthen its position in the competitive sneaker market and expand its product offerings.