Sneaker Brand Gully Labs Bags Rs 8.7 Cr Funding to Scale Globally

Founded in 2023 by engineers Arjun Singh and Animesh Mishra, New Delhi based started Gully Labs has received Rs 8.7 crore to grow their sneaker brand. The funding includes Rs 7.6 crore in equity and Rs 1.1 crore in debt.
The brand draws inspiration from local art forms, festivals, and everyday Indian life to create footwear that is both fashionable and rooted in culture.

The equity funding was led by Zeropearl VC, with participation from a group of well-known entrepreneurs and investors, including Vivekananda Hallekere (co-founder of Bounce), Suhasini Sampath (co-founder of Yogabar), Nishchay AG (co-founder of Jar), and Ashutosh Valani (co-founder of Renee Cosmetics). The venture debt component was provided by Stride Ventures.

“Our vision is to make sneakers that carry Indian stories,” said the founders. “This round is a big step forward for us. We have always believed that Indian stories deserve a global stage not just in art and cinema, but in products people use and wear every day.”

Commenting on the investment, Bipin Shah, Founder and Managing Partner at Zeropearl VC, said, “Our Indiluxe thesis believes India’s affluent consumers should embrace premium homegrown brands over foreign ones. Gully Labs embodies this spirit — taking India’s rich cultural story to the world through sneakers that are 100% made in India.”

The funding marks an important milestone for Gully Labs, which hopes to position itself as a global brand from India in the years to come. - TWL Bureau