Stride Ventures leads Rs 7 crores debt funding round in footwear brand Neeman’s
- ByStartupStory | December 3, 2021
Venture Firm Stride Ventures said that it led a Rs7 crore debt funding round in the sustainable footwear Brand Neeman’s. The funding will be apparently used by the shoe brand to expand its portfolio, product development and entering new markets and segments.
“Customers are increasingly gravitating towards environment-friendly businesses
As the world moves towards a sustainable way of living. While the Indian footwear industry is poised to grow at a steady pace , the D2C segment for the footwear industry has become the fastest-growing channel. With its strong marketing strategy and large social media presence, the brand has expanded across PR, marketing, brand strategy, influencer partnerships and other alied functions.Taran and Amar have ensured that Neeman’s i well-placed to tap a huge target addressable market, and we are pleased to partner with them on this journey.” said the founder and managing partner of Stride Ventures, Ishpreet Singh.
The footwear brand uses completely natural, renewable, recyclable and chemical-free materials and it is a lightweight, flexible and machine washable product. The Company has sold around two pairs of shoes till date. Founder and CEO, Taran Chabra said in a statement,”From starting 2.5 years ago to selling over 2 lakh pairs, our journey has just started. Partnering with a fund which aligns with our founder-driven mindset is just the right step for us”
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