In a seed funding round, the sneaker company Gully Labs raised Rs 8.7 crore, which was made up of Rs 1.1 crore in venture debt and Rs 7.6 crore in equity. Stride Ventures led the debt investment, while Zeropearl VC led the equity round with participation from Untitled Ventures, Atrium Ventures, and other notable angel investors such as Vivekananda Hallekere, co-founder and CEO of Bounce, Suhasini Sampath, Nishchay AG, Renee Cosmetics founder Ashutosh Valani, Anurag Ramadasan, and Rahul Seth.
The company had previously raised Rs 1.1 crore in equity in its 2024 pre-seed round.
According to a press release from Gully Labs, the new funding will be used to open physical retail locations, diversify the product mix, and increase sales channels.
Arjun Singh and Animesh Mishra co-founded Gully Labs in 2023 to create handcrafted sneakers that combine high-quality materials with culturally significant design narratives. Their collections include Phulkari-embroidered sneakers and silhouettes inspired by Onam.
Gully Labs offers its goods for sale on its website and in a few partner stores located throughout Indian cities. The company intends to expand its product line to include a wider variety of sneaker styles, expand its production facility, and expand its market reach in India and abroad. Its omni-channel strategy also includes the opening of exclusive retail locations.
