Footwear Brand Neeman's Raises INR 35.5 Cr in Series B2 Round Led by SNAM Solutions

Sustainable footwear brand Neeman's has raised USD 4 million (approximately INR 35.5 crore) in its Series B2 funding round, led by SNAM Solutions, the investment arm of SNAM Group of Companies. SNAM Group invested INR 16 crore in the round, with strong participation from existing investors Anicut Capital, Enam Investments, and Harsh Mariwala-backed Sharrp Ventures.

Commenting on leading the round, Adhvith Dhuddu, Managing Partner at SNAM Solutions, said, "The Indian consumer journey is alive and kicking, and we're always looking for new-age, scalable businesses to partner with. Our analysis showed that Neeman's is at an inflection point in its growth journey, and we are thrilled to be joining them as they shift gears to scale profitably over the next few years. The values shared by Neeman's founders also resonated with us, and we felt this is a great time to back their journey and are excited to be leading this round."

Founded in 2017 by Taranjeet Singh Chhabra and Amar Preet Singh, Neeman's has built its brand around comfort-led, sustainable footwear designed for everyday use. The latest funding comes as the company looks to scale its omni-channel presence and strengthen its product and supply chain capabilities while moving towards disciplined and profitable growth.

Neeman's plans to deploy the capital towards expanding its offline footprint by adding new stores, while also strengthening its online presence. The brand is poised to close FY 2025-26 with revenues of around INR 180 crore and is targeting a top line of INR 500 crore over the next two years.

Commenting on the fundraise, Neeman's founders, Amar and Taran, said, "We're excited to welcome SNAM Solutions and appreciate our current investors as Neeman's enters its next phase of growth. This round is a strong validation of the brand we've built over the years — one that is rooted in comfort, sustainability, and solving real problems for everyday consumers. The capital will help us meaningfully expand our retail footprint, strengthen our product and supply capabilities, and scale the business in a disciplined and profitable manner."

SNAM Group Director Srikanth Sivaraman added, "SNAM is proud to be associated as an investor with an Indian homegrown footwear brand, Neeman's, in their pursuit of being a leader in the market of footwear." Muralidhar Dhuddu of SNAM Group noted, "Neeman's is in a sweet spot, catering to the rising middle class in India looking for premium footwear at affordable prices."

India's footwear market is projected to grow at a CAGR of 12-14 per cent over the next few years, with online footwear seeing faster growth driven by D2C brands and e-commerce platforms, providing significant headroom for Neeman's expansion.