Funding · Commerce & Consumer Brands

Neeman's raises $4M in Series B2 round

By Startup Enthusiast · 12 January 2026

What they do

Neeman's makes sustainable, everyday footwear sold online and offline

It raised $4M (approx ₹35.5 Cr) led by SNAM Group, with existing investors participating

The company targets ₹180 Cr revenue this fiscal and ₹500 Cr in two years

Neeman's has raised $4M (approx ₹35.5 Cr) in a Series B2 funding round.
The round was led by SNAM Group through its venture arm SNAM Solutions.
SNAM Solutions invested ₹16 Cr in this round.
Existing investors Anicut Capital, Enam Investments, and Sharrp Ventures (Harsh Mariwala's family office) also participated.
The company plans to use the funds to expand offline retail with new stores.
It will also strengthen online channels and improve supply chain capabilities.

The Indian footwear market is estimated at $22-23B in 2025 and projected to reach $38-45B by 2030-2032.
Online footwear is growing at a CAGR of 24-27% up to 2032.
India's per-capita footwear consumption is only 1.7-1.9 pairs/year, compared to the global average of 3 and the US's 7, indicating huge headroom.

Neeman's makes sustainable footwear for everyday comfort at premium affordable prices.
It sells through its own website, ecommerce platforms, quick commerce platforms, and offline stores.
The company targets ₹180 Cr revenue in FY25-26 and ₹500 Cr top line in two years.
It was featured in the Inc42 Fast42 list in 2022.

SNAM Group (lead) — Industrial conglomerate established in 1981, operates in India and Vietnam, exports to 50+ countries.
SNAM Solutions (lead) — Venture arm of SNAM Group with $100M AUM; early investor in California Burrito (125+ outlets).
Anicut Capital (participated) — Existing investor in Neeman's.
Enam Investments (participated) — Existing investor in Neeman's.
Sharrp Ventures (participated) — Harsh Mariwala's family office; existing investor in Neeman's.

Product: D2C footwear brand
Customers: Individual consumers seeking comfortable, casual, and eco-friendly everyday footwear.
How it makes money: Generates revenue by selling footwear through its direct-to-consumer website, e-commerce marketplaces, and exclusive physical retail stores.
What sets it apart: Uses natural and recycled sustainable materials like Merino wool and recycled PET knits to manufacture everyday casual shoes.