SNAM Group of Companies, through its investment armSNAM Solutions, has led the Series B2 funding round in footwear brand Neeman’s.
Founded in 2017 by Taranjeet Singh Chhabra and Amar Preet Singh, Neeman’s has raised $4 million (approximately ₹35.5 crore) in the latest round. SNAM Group led the fundraising with an investment of ₹16 crore, while existing investors Anicut Capital, Enam Investments, and Sharrp Ventures also participated.
Credit goes to isn
Adhvith Dhuddu, Managing Partner at SNAM Solutions and head of venture investments at SNAM Group, said the firm sees strong potential in India’s evolving consumer landscape.
“The Indian consumer journey is alive and accelerating. We are always looking to partner with new-age, scalable businesses. Our analysis showed that Neeman’s is at a key inflection point in its growth, and we’re excited to support the brand as it focuses on scaling profitably over the next few years. The founders’ values resonated strongly with us, making this the right time to lead the round,” Dhuddu said.
Expansion Plans and Growth Outlook
Neeman’s plans to deploy the fresh capital to expand its offline retail footprint by opening new stores while also strengthening its online presence across platforms.
Commenting on the fundraise, founders Amar Preet Singh and Taranjeet Singh Chhabra said the round validates the brand’s long-term vision.
Credit goes to Neeman’s
“We’re delighted to welcome SNAM Solutions and thankful to our existing investors as Neeman’s enters its next phase of growth. This round reinforces the brand we’ve built—focused on comfort, sustainability, and solving real consumer needs. The capital will help us expand retail meaningfully, strengthen product and supply capabilities, and scale in a disciplined, profitable manner,” the founders said.
Neeman’s is targeting revenue of around ₹180 crore in FY26 and aims to reach a ₹500 crore top line within the next two years.
Srikanth Sivaraman, Director at SNAM Group, said the company is proud to back an Indian footwear brand with strong growth ambitions.
“SNAM is pleased to associate with Neeman’s as it works towards becoming a leader in the Indian footwear market,” he said.
Muralidhar Dhuddu of SNAM Group added that Neeman’s is well-positioned to serve India’s expanding middle class.
“Neeman’s sits at a sweet spot—offering premium footwear at accessible prices. We were impressed by the brand’s balanced omni-channel strategy and its clear focus on profitability across both online and offline operations,” he said.
Credit goes to Neeman’s
India’s Footwear Market Opportunity
India is one of the world’s largest footwear consumers and producers, with the sector expected to grow at a CAGR of 12–14% over the coming years. The overall Indian footwear market is projected to expand from $22–23 billion in 2025 to $38–45 billion by 2030–2032.
Online footwear sales are growing even faster, with D2C footwear brands and fashion e-commerce platforms seeing an estimated CAGR of 24–27% through 2032. India’s per-capita footwear consumption currently stands at 1.7–1.9 pairs annually, well below the global average of 3 pairs and developed markets such as the US, where consumption reaches around 7 pairs per year.
