Start-Up 06-12-2021 Hits: 3198

D2C brand Neeman’s raises debt funding for expanding portfolio

Start-Up 06-12-2021 Hits: 3198

06 December 2021, Mumbai:

Sustainable footwear D2C brand Neeman’s has raised a debt funding of Rs 7 crores from Stride Ventures. The D2C start-up was founded two and a half years back and has sold 250,000 pairs of footwear since then.

This is the 40th investment in Stride's portfolio across its two funds. The amount deployed from Stride Ventures India Fund – II will be utilised by the shoe brand for expanding its portfolio, intensive product development and commitment to the planet. It will also enable the company to enter new markets and segments.

This investment will enable Neeman’s to strengthen its journey towards reducing carbon footprint and staying committed to producing well-crafted comfortable shoes. It will also facilitate the start-up in extending into other categories such as fashion and apparel.

As a sustainable brand that uses completely natural, renewable, recyclable and chemical-free materials, Neeman's footwear are lightweight, flexible and machine washable. Neeman’s has launched merino wool shoes in India in collaboration with Woolmark.

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.

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