Hyderabad-based sustainable footwear brand, Neeman’s has recently announced that it has raised INR 20 crore (approximately $ 2.7 million) in a Series A round led by Sixth Sense Ventures. The startup will utilise the funds towards intensive product development, launching Neeman’s in international markets, expansion of categories and further strengthening their commitment to the planet.
Founded in 2018 Neeman’s uses natural fibres like Merino Wool in shoemaking. Taran Chhabra, Founder and CEO of Neeman’s, said, “We are elated that Neeman’s in a short period has successfully reinvigorated the Indian footwear industry and created the position for ‘The Most Comfortable Shoes’ in the country for itself. We are delighted to have Sixth Sense Ventures partner with us in our journey of being the first sustainable footwear brand in India.”
“The investment from our new partner, Sixth Sense Ventures, reassures us that we are taking the right steps and strengthens our commitment to providing people with superior quality comfortable, eco-friendly and stylish footgear,” he added.
On the investment, Nikhil Vora from Sixth Sense Ventures commented, “Our partnership with Neeman’s underpins this belief, with the brand has created a strong affinity among new-age conscious consumers. Within two years, the team has demonstrated great ability to successfully launch innovative products disrupting the US$11bn footwear category. Neeman’s is spearheading the transition to eco-friendly footwear in India, and we believe they are best positioned to carve a niche for themselves in the generic footwear space (akin to Allbirds in the US).”