[Funding alert] D2C Brand Acefour Accessories raises $7 mn in Pre-Series A round

Acefour Accessories, a travel accessories startup, has raised $7 million in its pre-Series A funding round from Sixth Sense Ventures’s current fund, Sixth Sense India Opportunities III.

Existing investor Volrado Venture Partners also participated in this round. The funding comes just ahead of the launch of Acephor’s product range.

The company plans to use the funds for its working capital, brand and product creation.

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The Mumbai-based Acefour Accessories was founded in 2021 by Sudip Ghose (former CEO & MD of VIP Industries and former executive director of Samsonite India), Uday Sodhi and Arnob Mondal, It has a premium range of travel accessories.

Acefour said in a statement that the D2C startup is aiming to establish itself as a fresh, contemporary, sustainable brand through its brand Uppercase.

It aims to disrupt India’s $3.5 billion merchandise market with new-age brands, which the company says is highly fragmented.

Sudip Ghose, Founder, Acefour, said, “We are glad to have Sixth Sense on board in our journey towards a sustainable travel accessories segment. The fact that Nikhil is known for choosing winners boosts our confidence. It reiterates that we are on the right path where we want to make travel a sustainable experience with products that save nature.”  

He also said that we are equally pleased with Aakash’s decision to continue to believe in our story and commitment by more than double our investment. It’s a big win and it’s a big responsibility for us to prove their conviction in us.

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“The Indian luggage industry has been dormant for too long, waiting to be disrupted. With all incumbents combined holding just around 30% share in the organised segment, the market is highly fragmented, presenting a huge opportunity for Acefour,” said, Nikhil Vora, founder and CEO of Sixth Sense Ventures.

“The organized luggage industry is just one-third of the total market. This itself presents a great opportunity to invest in this category, hence, we had led the seed round. When the team came back and presented their products and their growth vision, we felt confident to more than double our investment in this round”, said,  Akash Bhanshali, Director, Enam Holdings.

In March this year, Acefour had raised $1.5 million in its seed funding round led by Enam Holdings.

About Acefour Accessories

They are a D2C company building India’s biggest and global D2C sustainable Travel accessories brand. Their brand uppercase is built specifically for the fashion forward, socially active new age customer while sharing their concern for the planet.