Mokobara, a direct-to- consumer backpack startup, secured $3.6 Mn (INR 29 Cr) from a number of funding partners, such as its current investors Saama Capital, Sauce VC, and Alteria Capital.
According to its regulatory filings, startup’s board approved a resolution earlier this month to distribute 2,233 Series A1 compulsorily convertible cumulative preference shares (CCPS) to 27 investors for a premium of INR 1,34,320.40, as per reported by Inc42.
Saama Capital, which is investing $1.6 Mn or INR 14 Cr to be exchanged for 1,046 Series A1 CCPS, will serve as the round’s lead investor. Among the other investors in the financing round are LogX Venture, Sauce VC, Alteria Capital, and Touchstone VC.
Deepika Padukone, who is a well-known Bollywood actor, is an investor in Mokobara. Varun Alagh, a co-founder of Mamaearth, Ashish Goel, a co-founder of Urban Ladder, Ramakant Sharma, a co-founder of Livspace, Raul Rai (of Nicobar and Good Earth), and the Chona Family Office are among the investors in Mokobara.
The Bengaluru-based Mokobara, which was established in 2019 by Sangeet Agarwal and Navin Parwal, provides a variety of luggage, and travel bags on its website. Additionally, it sells its manufactured products on online stores like Amazon and Flipkart.