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HomeInsightFunding Alert Mokobara raises $6.5 mn in Series A round

[Funding alert] Mokobara raises $6.5 mn in Series A round

Mokobara, a Direct-to-consumer (D2C) luggage brand, has raised $6.5 million in its Series A funding round from Saama Capital, Sauce VC and Deepika Padukone.
Sangeet Agarwal and Navin Parwal founders of Mokobara

Mokobara, a Direct-to-consumer (D2C) luggage brand, has raised $6.5 million in its Series A funding round from Saama Capital, Sauce VC and Deepika Padukone.

The company plans to use the funds to promote its research and design. It will also use the funds to double down on team building, category expansion, and launching experience centres. 

The round also saw participation from Alteria Capital, Panthera Peak Ventures, and Good Capital.

Other investors including Varun Alagh (Co-founder Mamaearth) ; Ashish Goel (Co-founder Urban Ladder) ; Founders of Licious; and Ramakant Sharma (Co-founder LivSpace) has backed this brand.

Read also – [Funding alert] Wheelocity Raises $12 Mn in series A round led by Lightspeed Venture Partners

The Bangalore-based Mokobara was founded by Sangeet Agarwal and Navin Parwal, with a mission to elevate the joy of travel. 

“We used the pandemic months to double down on design work. We engaged with an award-winning product design agency from London to help us create the most functional and beautiful range of luggage and bags. We developed real relationships with our consumers who shared valuable insights that informed our design process,” said, Sangeet Agarwal, Co-founder Mokobara.

“The Mokobara team has recognised the massive opportunity that exists in the travel space. We believe in their obsession with product design and quality and also in their long-term vision of creating the most-loved travel brand in India. In just two years, they’ve disrupted the category and are on track to scale their business to Rs 100 crore ARR within a year,” said, Kiranbir Nag, partner, Saama Capital.

Read also – Healthtech platform Mfine merges with Lifecell International

“Since our seed investment, Mokobara has grown 20x, while maintaining strong financials. Sangeet and Navin have combined great brand execution with an unapologetic emphasis on design and product quality. Mokobara will be one to watch for years to come,” said Manu Chandra from Sauce.vc.

About Mokobara

A new, simpler way of travelling. The way we travel is changing, but luggage hasn’t evolved for decades. We collaborated with Studio Morrama, London to reimagine modern cabin luggage.

They’re on a mission to help folks who are Going Places, travel with ease & get there looking sharp. They believe every trip starts the minute you have a destination in mind, not when you get there. You should be focussed on your destination, not fretting over how to get there.

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