Gully Labs, a homegrown sneaker brand inspired by Indian culture and lifestyle, has closed a deal on Shark Tank India season 5.
Founded by Arjun Singh and Animesh Mishra, both alumni of Netaji Subhas University of Technology, Delhi, Gully Labs focuses on premium, design-forward sneakers that blend traditional Indian aesthetics with modern streetwear.
During the pitch, the founders showcased several models including 1928 Turf Olive, 1980 Wizard Red, and Khoj Green.
The brand emphasises in-house manufacturing in Noida and operates an Experience Store in Delhi. It follows a product strategy of launching one new collection per month to maintain freshness and exclusivity in the market.
The founders shared unit economics for their business: cost of goods sold at 44%, marketing at 35%, fees and logistics at 10%, and a contribution margin (CM2) of 11% per pair of sneakers.
At the time of the pitch, Gully Labs reported ₹2.85 crore in bank balance and had previously raised capital at a ₹120 crore pre-money valuation (₹150 crore post-money).
On the show, the founders originally asked for ₹1 crore for 0.5% equity, valuing the company at ₹200 crore. Multiple offers followed, including from Kunal Bahl, and a group from Kunal Bahl, Mohit Bansal, and Kanika Mann. Ultimately, Aman Gupta invested ₹1 crore for 0.57% equity, closing the deal at a ₹175 crore valuation. Aman chose to invest independently despite suggestions to form an all-Shark consortium.
Gully Labs employs a team of 150 people, including 100 artisans and 50 corporate staff. Since the Shark Tank appearance, reports from January 2026 suggest the brand has raised ₹26.5 – ₹30 crore in a Series A round led by Saama Capital, valuing the company at around ₹147 crore post-money.
With fresh funding and strategic backing, Gully Labs aims to expand its market presence and scale its “Indi-cool” sneaker portfolio across India’s growing streetwear segment.
