- Gully Labs raises Rs 26.5 crore in a Series A funding round to scale its business
- Saama Capital leads the round, joined by existing and new investors
- Fresh capital to fuel expansion of its India-inspired sneaker brand, strengthen operations, and support long-term growth
Indian sneaker brand Gully Labs has raised Rs 26.5 crore (about $3 million) in its Series A funding round, led by venture capital firm Saama Capital. Existing seed investor Zeropearl and several prominent angel investors also participated, signaling growing confidence in the brand’s growth story.
According to regulatory filings with the Registrar of Companies, Gully Labs issued a mix of equity shares and Series A compulsorily convertible preference shares to close the round. Saama Capital contributed the bulk of the funding with an investment of Rs 22.6 crore, while Zeropearl followed with Rs 3.5 crore. The round also saw compacter contributions from individual investors, including Unacademy Co-Founder Roman Saini, Edelweiss Mutual Fund MD and CEO Radhika Gupta, and other well-known angels.
The fresh capital will be applyd to scale operations, expand the business, and support general corporate necessarys. Post-funding, Gully Labs is valued at around Rs 147 crore ($16.25 million), based on industest estimates. After the allotment, Saama Capital has become the largest shareholder with a 15.4 percent stake, followed by Zeropearl with just over 10 percent.
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Founded in 2023 by Arjun Singh and Animesh Mishra, Gully Labs is a direct-to-consumer footwear brand that draws inspiration from Indian street culture. The company designs and manufactures its sneakers in-hoapply and sells primarily through its own website, giving it tight control over product quality and brand identity.
Gully Labs had earlier raised nearly $1 million in seed funding in mid-2024. While it is yet to report its FY25 financials, the brand operates in a competitive market alongside players such as Comet, Neemans, Solethreads, and others. With this Series A round, Gully Labs aims to strengthen its position in India’s rapid-growing sneaker and lifestyle market.
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