Indian sneaker culture meets global ambition! Gully Labs represents the evolution we love to see at GIA – homegrown brands that blend deep cultural narratives with modern design aesthetics to compete on the world stage.
What is the news?
- Gully Labs has raised ₹8.7 crore in seed funding led by Zeropearl VC, comprising ₹7.6 crore in equity and ₹1.1 crore in venture debt, following a ₹1.1 crore pre-seed round in 2024.
- Founded by engineers-turned-entrepreneurs Arjun Singh and Animesh Mishra in 2023, the startup creates sneakers that fuse modern aesthetics with Indian narratives.
- The fresh capital will also enable the startup to establish a larger production facility, roll out new sneaker styles, and strengthen its footprint across Indian metros and international markets.
Why is it interesting?
- This funding validates our thesis that Indian consumer brands can scale globally while staying culturally rooted. The investor lineup includes prominent startup founders like Vivekananda Hallekere (Co-founder & CEO, Bounce), Suhasini Sampath (Co-founder, Yogabar), Nishchay AG (CEO, Jar), Ashutosh Valani (Founder, Renee Cosmetics), and investors Anurag Ramadasan and Rahul Seth showing strong founder-to-founder belief in the vision.
- India’s sneaker market is projected to grow from $3.76 million in 2024 to $6.46 million by 2033 at 5.89% CAGR. Gully Labs’ approach of making “Indian stories deserve to be worn, not just watched or read” positions them perfectly for this expanding market while building global appeal through authentic cultural storytelling.
Read more: Gully Labs secures ₹8.7 crore in seed funding to scale design-led Indian sneaker brand – CNBC TV18