Funding · Commerce & Consumer Brands
Gully Labs raises Rs 30 Cr in Series A led by Saama Capital
By Startup Enthusiast ·
- Date
- Company
- Gully Labs
- What it does
- Premium sneakers brand
- Kind
- Funding
- Amount
- ₹30 crore
- Stage
- Series A
- Founded
- 2023
What they do
Gully Labs makes premium sneakers inspired by Indian art and crafts
What happened
Saama Capital led the Rs 30 Cr round with Zeropearl VC participating
Why it matters
The company targets INR 100 Cr annual revenue by FY 2026–27
The details
- Gully Labs raised Rs 30 Cr in a Series A funding round.
- Saama Capital led the investment with a contribution of Rs 22.6 Cr.
- Zeropearl VC participated as a follow-on investor beyond its pro-rata rights.
- Individual investors included Roman Saini, Gaurav Munjal, and Radhika Gupta.
- The post-money valuation stands at approximately Rs 147 Cr.
- Founders Arjun Singh and Animesh Mishra are engineers who started the company in 2023.
- The funds will be used to expand offline retail across key Indian cities.
- Gully Labs aims to strengthen its brand visibility in international markets like the US and UK.
The bigger picture
- The company has achieved INR 30 Cr in annualised revenue since its seed round.
- Competitors include Comet, Neemans, and Solethreads in the premium sneaker space.
- Saaam Capital partner Ash Lilani joined the board during this transaction.
- Zeropearl VC partner Bipin Shah also participated in the deal terms.
About the business
- Gully Labs designs and manufactures premium sneakers in-house.
- The brand draws inspiration from regional art forms and traditional crafts.
- It operates on a direct-to-consumer model via its own website.
- The company maintains an offline presence in five Indian cities.
- International sales are currently active in the US and UK markets.
- Revenue reached INR 30 Cr annualised as of March 2025.
- Products cater to customers seeking contemporary Indian identity in footwear.
What happens next
- Expand product portfolio with new sneaker designs.
- Scale offline retail operations across key Indian markets.
- Strengthen brand visibility in the US and UK.
The deal
- Type
- Series A
Investors
- Saama Capital (lead) — Investment firm led by Ash Lilani.
- Zeropearl VC (participated) — Venture capital firm that led the seed round earlier in 2025.
Founders
- Arjun Singh, Co-founder
- Animesh Mishra, Co-founder
About Gully Labs
- Product
- Delhi NCR-based startup that sells sneakers inspired by Indian motifs
- Customers
- Consumers buying sneakers and casual footwear
- How it makes money
- Sells sneakers directly to consumers through online and offline channels
- What sets it apart
- Designs premium sneakers inspired by Indian culture and motifs
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