Gully Labs, a sneaker business that combines contemporary craftsmanship with Indian design heritage, has secured Rs. 8.7 crore (US $ 1.01 million) in seed money to grow its distribution network and product line. There was Rs. 1.1 crore (US $ 128,000) in venture loans and Rs. 7.6 crore (US $ 885,000) in equity in the round.
A new wave of direct-to-consumer firms that are positioning luxury Indian design for an affluent, urban consumer base includes the New Delhi-based start-up, which was launched in 2023 by Arjun Singh and Animesh Mishra.
Several well-known founders and early-stage investors participated in the equity injection, which was spearheaded by Zeropearl VC. Among them were Jar’s Nishchay AG, Suhasini Sampath of Yogabar, Vivekananda Hallekere of Bounce, and Ashutosh Valani of Renee Cosmetics. Stride Ventures spearheaded the debt investment, but micro-VCs including Untitled Ventures and Atrium Ventures also participated.
Gully Labs collected Rs. 1.1 crore (US $ 128,000) in a pre-seed equity investment last year before this round. The business wants to expand on its cultural design-first stance, which started with handcrafted trainers that featured Phulkari embroidery and designs inspired by regional Indian festivities. It intends to expand its product portfolio, open upscale retail locations, and strengthen its position in India’s metro cities with the help of the fresh funding.
For the brand, this round represents a significant advancement. Gully Labs is excited to expand its goal, add more employees, go physical retail, and provide Indians and others even more design-driven, culturally-rooted trainers with this assistance. Above all, according to Arjun Singh and Animesh Mishra, Gully Labs is given responsibility as it moves forward with the support of such seasoned founders and investors.
