Hyderabad-based shoe brand Neeman’s has raised about $1 million from a clutch of investors including Anicut Angel Fund, Angelist among others.
Through Anicut, Ashvin Chadha, Arjun Seth, Abhishek Goyal, Ambarish Raghuvanshi, Sanjay Kapoor are among the investors who participated in this round.
Founded in 2017 by Taran Chhabra and Amar Preet Singh, Neeman’s is a sustainable shoe brand that uses completely natural, renewable, recyclable and chemical-free materials to reduce carbon footprint.
“We are here to redefine the shoe industry. With the influx of seasoned investors and entrepreneurs, we have the right base to grow from the exceptional first year we have had” said Taran.
As per the industry data, the current size of shoe industry is around Rs 40, 000 crore and growing at 5% compounded annual growth rate (CAGR).
“With a deep understanding of shoe design and a commitment to using premium, natural and sustainable fabrics and raw materials, we feel that Taran and Amar have delivered excellent products, in line with the brand philosophy of Neeman’s,” said Tushar Singh and Rohit Anand. “Going forward, we believe this investment will support their journey as they scale up in a growing footwear market in India while targeting aware, responsible, comfort-seeking and fashion-conscious customers.”
