Stride Ventures Leads 7 Crore Debt Fundraising Round In Sustainable Footwear Brand Neeman’s

Stride Ventures said Thursday it led a $ 7 million debt financing in sustainable footwear brand Neeman’s. Funding will be made through the Stride Ventures India Fund – II and will be used by the footwear brand to expand its portfolio, invest in product development and engage with the planet.

It will also allow them to enter new markets and segments.

Ishpreet Singh, Founder and Managing Partner of Stride Ventures, said, “Customers are increasingly turning to environmentally responsible businesses as the world moves towards a sustainable lifestyle. As the Indian footwear industry is poised to grow at a steady rate, the D2C segment for the footwear industry has emerged as the fastest growing channel. With its strong marketing strategy and large social media presence, the brand has expanded into public relations, marketing, branding, influencer partnerships and other related functions. Taran and Amar have ensured that Neeman’s is well positioned to tap into a huge addressable target market, and we’re excited to partner with them on this journey.

As a sustainable brand that uses all-natural, renewable, recyclable, and chemical-free materials, Neeman’s product value proposition includes comfort, sustainability, and respect for the environment. The shoes are lightweight, flexible, machine washable, and can be worn with and without socks, making them suitable for the varied Indian climate. He has sold two pairs of lakh shoes till date.

Amar Preet Singh, Founder and COO of Neeman’s, said: “We are delighted to have Stride Ventures as partners in the journey to change the way India wears shoes. Since our inception, our motto has been to make durable and comfortable shoes. Thus, we launched shoes using unexplored natural and renewable fabrics such as merino wool, recycled PET bottles and even recycled tires, which consumers concerned with the new era have accepted well. This investment will allow us to strengthen our journey towards reducing the carbon footprint and remain committed to producing comfortable and well-designed shoes. It will also make it easier for us to expand to other categories such as fashion and clothing.

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