Neeman’s, a Hyderabad-based eco-conscious footwear startup manufacturing comfortable shoes using Merino Wool, announced it has raised $1 million pre-Series A funding led by Anicut Angel Fund. Tushar Singh and Rohit Anand led the funding round on behalf of Anicut, with Tushar joining the company board.
Through Anicut, Ashvin Chadha, Arjun Seth, Abhishek Goyal, Ambarish Raghuvanshi, and Sanjay Kapoor are among the investors who participated in this round. Other investors that took part in the funding round include AngelList and a clutch of serial entrepreneurs.
The company will utilise the funds to boost expansion in core areas. Neeman looks forward to expanding its business operations, introducing new designs and segments, work on product development, and bolster marketing initiatives.
As per a media report, Taran Chhabra, Founder and CEO of Neeman’s, said, “We are here to redefine the shoe industry using natural, superior-quality, and environment-friendly products. Creating extremely comfortable and durable shoes that can be worn year-round with the same comfort has been the key motivating factor in starting Neeman’s.”
Neeman was founded in 2017 by Taran Chhabra and Amar Preet Singh. The company claims to be India’s first start-up that makes shoes from natural fibre. The company uses Merino wool, which comes from Australian Merino sheep. The founders of the company, Taran Chhabra and Amar Preet Singh, say Neeman’s is a product born out of necessity.
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