Comet, a homegrown lifestyle sneaker brand, has successfully raised Rs 42.3 crore ($5 million) in a Series A funding round. The round was led by Elevation Capital, with additional participation from Nexus Ventures and Mumbai-based angel fund AL Trust.

Founded in 2022 by Utkarsh Gupta and Dishant Daryani, Comet specializes in retro-styled sneakers and slip-on sandals, sold through their website. The brand aims to blend style and comfort, targeting fashion-forward consumers in the competitive sneaker market.

The company makes and sells retro-styled sneakers and slip-on sandals via its website. The company offers sneakers priced at an average Rs 4,299 a pair competing with major sneaker makers like Nike which is planning to launch $100-and-under sneakers in countries around the world. The company also competes with other Indian footwear brands such as Redtape, Campus, and Sparx.