India, Sept. 4 -- D2C sneaker brand Comet has raised Rs.100 Cr ($10.6 Mn) in a Series B funding round led by global investment firm Verlinvest. Existing investors Elevation Capital and Nexus Venture Partners also doubled down on the startup.

Additionally, Snapchat CBO Ajit Mohan, Urban Company founder Abhiraj Singh Bhal, and Bhaane cofounder Anand Ahuja also backed Comet as angel investors.

The capital will be used to expand Comet's retail presence, strengthen product development and tech, as well as foster research and development. The startup is working on developing its own sole moulds as well as the tools required to bring new footwear models to market.

As of now, the startup operates ten company owned company operated (CoCo) store...