D2C luggage startup Mokobara has raised $6.5 Mn in its Series A funding round led by Saama Capital and Sauce VC. Mokobara plans to use the capital to boost its research and design.
Good Capital, Alteria Capital, Panthera Peak Ventures, and individual investors including Varun Alagh, Co-founder of Mamaearth, Ashish Goel from Urban Ladder, founders of Licious, Ramakant Sharma from LivSpace, Raul Rai from Good Earth and Chona Family Office participated in the funding round.
Deepika Padukone join mokobara as an investor and brand ambassador,
The startup was founded in 2020 by Sangeet and Navin Parwal with a mission to elevate the joy of travel. The Bengaluru-based startup offers a host of luggage, travel bags, wallets, kits and sling bags on its online platform.
Mokobara has collaborated with London-based Studio Morrama to create cabin luggage, as per its LinkedIn profile.
Mokobara counts Bollywood actress Deepika Padukone as its investor. Besides, it also secured
INR 2.33 Cr from Sauce.vc in a seed funding round in 2020, according to Crunchbase.
In the D2C segment, it competes with the likes of American Tourister, Safari, Wildcraft, and VIP.
Kiranbir Nag, partner, Saama said that the Mokobara team has recognised the massive opportunity that exists in the travel space.
Recently, travel accessories brand Acefour Accessories secured $7 Mn from Sixth Sense Ventures’s current fund and Volrado Venture Partners.
In the previous month, Indian actress Rashmika Mandanna backed D2C startup Plum and consequently, became its brand ambassador. Besides, skincare brand WOW Skin Science secured $48.02 Mn from Singapore-based sovereign wealth fund GIC.
During the same timeframe, Bare Anatomy’s parent Innovist raised $3.5 Mn from Accel Partners, 72 Ventures, and other individual investors such as Sauce’s Manu Chandra, Patni Family Office Arihant Patni, and CRED’s Kunal Shah, among others.
Biotech startup String Bio has raises $20 million in Series B