Carry-focused streetwear brand Indian Walker has raised its first pre-seed round from Palette Wealth Management at a post-money valuation of Rs 20 crore. The company is part of co-founder Circle Venture Studio, founded by entrepreneur Darpan Sanghvi.
The company plans to use the capital primarily for inventory, while also expanding its product range and adding new SKUs to its Level Up collection. It will also build teams across marketing, social media and operations. Indian Walker is targeting Rs 100 crore in annual recurring revenue and a customer base of more than one lakh over the next 24 months.
Founded by Md. Sakib in July 2025, Indian Walker sells backpacks in the Rs 2,000-4,000 range through its D2C website. Its Level Up collection, led by the Stride backpack, has sold more than 10,000 units since launch, according to the company. It plans to enter Amazon, Flipkart and Myntra in the next quarter, followed by quick-commerce and other marketplace channels.
The company said its expansion will focus on increasing product categories, distribution and customer reach. Palette Wealth Management founder Kuldeep Sikawar said the investment was driven by demand running ahead of inventory and the company’s focus on product quality and unit economics.
