Following a new seed funding round, sneaker brand Gully Labs has raised a total of Rs 8.7 crore - which comprises Rs 7.6 crore in equity and Rs 1.1 crore in venture debt. Zeropearl VC led the equity round, with participation from Untitled Ventures, Atrium Ventures, and leading angel investors such as Vivekananda Hallekere (co-founder & CEO of Bounce), Suhasini Sampath, Nishchay AG, Ashutosh Valani (founder of Renee Cosmetics), Anurag Ramadasan, and Rahul Seth, while Stride Ventures led the debt round. The company had previously raised Rs 1.1 crore in equity in its pre-seed round of funding in 2024.
- Gully Labs raises Rs 8.7 crore in funding led by Zeropearl VC and Stride Ventures to boost growth and retail expansion.
- The handmade sneaker brand plans to launch exclusive retail stores and expand across India and global markets.
- Co-founded in 2023, Gully Labs combines culture and craftsmanship in sneakers, including custom Phulkari and Onam-inspired designs.
According to Gully Labs, the new funds will go towards a product mix, sales channels, as well as opening physical retail stores.
Co-founded in 2023 by Arjun Singh and Animesh Mishra, Gully Labs produces handmade sneakers that utilize quality materials and incorporate culturally-rich stories through design, custom shoes - through a Phulkari embroidered trainer to a silhouette inspired by Onam.
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Gully Labs sells its products on its website, and through select partner stores around Indian metros, and the company is looking to establish a larger facility for manufacturing productions and expand its product line across various sneaker collections, which could also include their operations being extended further across India and in foreign markets as well. They also plan to open exclusive retail storefronts as part of its omni-channel retail approach.
