Gully Labs Secures ₹8.7 Crore In Seed Funding To Scale Design-Led Indian Sneaker Brand
Gully Labs Secures ₹8.7 Crore in Seed Funding to Drive India’s Homegrown Sneaker Revolution
Homegrown sneaker startup Gully Labs has raised ₹8.7 crore in a seed funding round led by Zeropearl VC, with participation from several marquee investors in India’s startup ecosystem. The round raised ₹7.6 crore in equity and ₹1.1 crore in venture debt, with the debt portion led by Stride Ventures. It comes on the heels of the company raising ₹1.1 crore in a pre-seed round in 2024.
Not only did the pre-seed equity raise economically disrupt a relatively young market of over a dozen competitors, but they also were able to assemble many well-known founders and angel investors like Vivekananda Hallekere (Co-founder & CEO, Bounce), Suhasini Sampath (Co-founder, Yogabar), Nishchay AG (CEO, Jar), Ashutosh Valani (Founder, Renee Cosmetics) and angel investor Anurag Ramadasan and Rahul Seth.Micro-funds Untitled Ventures and Atrium Ventures also participated in the round.
Founded in 2023 by engineer-turned-entrepreneurs Arjun Singh and Animesh Mishra, Gully Labs is making strides in India’s footwear space by creating sneakers that combine contemporary streetwear with traditional Indian design—for example, festival-inspired silhouettes with designs that incorporate Phulkari embroidery.
The new capital will be used to scale production, develop new sneaker styles, and develop both digital and offline distribution through an aggressive omni-channel, and to set up exclusive retail stores and a larger manufacturing unit to meet increasing demand in India and abroad.
“This round is a major milestone for us,” said the co-founders. “We’re driven by the belief that Indian stories should be worn—our sneakers are a canvas for cultural expression. With this backing, we’re ready to take our vision global.”
Gully Labs sneakers are currently available through the brand’s website and select premium retail partners.
The sneaker market in India is on the rise. Estimated to be worth $3.76 million in 2024, it is expected to expand to $6.46 million by 2033, representing a CAGR of 5.89%, according to the IMARC Group. Investor interest is gaining momentum too, with $35.9 million invested in D2C sneaker startups in the last 10 years. In 2019, 17 such brands launched the most in any year in the past decade according to Tracxn.
