Total amount raised
$22.4 Millions
Latest funding date
2/1/2024
Location
Mokobara has successfully raised INR 100 Cr in a Series B funding round led by Peak XV Partners. The company specializes in modern travel luggage and accessories, offering a range of products designed for ease and style.
Keep reading to explore the intricacies of Mokobara's fundraising journey and the investors backing this innovative brand.
What Is Mokobara?
Mokobara, founded in 2019 by Navin Parwal and Sangeet Agrawal, is based in Bengaluru, Karnataka, India. The company specializes in modern travel luggage and accessories, offering products like suitcases, backpacks, and duffel bags designed for ease and style.
With a team of 11-50 employees, Mokobara aims to make travel more convenient and stylish through thoughtful design and high-quality materials. Their product range includes cabin and check-in luggage, vegan leather handbags, and more.
For more details, you can visit their official website or check out their Crunchbase profile.
How Much Funding Has Mokobara Raised?
- Seed Round
- Amount Raised: ₹23.3M
- Date: February 2020
- Lead Investors: Sauce.vc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and product development.
- Series A
- Amount Raised: $6.5M
- Date: July 2022
- Lead Investors: Saama Capital, Sauce.vc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and scale operations.
- Series A (Second Round)
- Amount Raised: ₹290M
- Date: October 2023
- Lead Investors: Saama Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further accelerate growth and market reach.
- Series B
- Amount Raised: ₹1B
- Date: February 2024
- Lead Investors: Peak XV Partners
- Valuation at Round: Approximately ₹700 crore ($84.5 million)
- Motivation Behind the Round: To support retail and global expansion, including opening stores in the UAE.
Total Amount Raised: $23.6 million
Current Valuation: ₹700 crore ($84.5 million)
Key Investors
- Peak XV Partners
- Details: Formerly known as Sequoia Capital India, Peak XV Partners is a leading venture capital firm. They led Mokobara's Series B funding round with an investment of ₹78.26 crore.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Byju's, OYO, Zomato.
- Sauce VC
- Details: Sauce VC is an early-stage venture capital firm that has been a long-time investor in Mokobara. They participated in multiple funding rounds, including the Series B.
- Investment Focus Areas: Consumer brands, technology.
- Notable Investments: XYXX, The Whole Truth.
- Saama Capital
- Details: Saama Capital is a venture capital firm focusing on early to growth-stage investments. They have been involved in several of Mokobara's funding rounds.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Snapdeal, Paytm, Vistaar Finance.
- Aditya Birla Ventures
- Details: Aditya Birla Ventures is a part of the Aditya Birla Group, focusing on venture capital investments. They joined Mokobara's Series B funding round.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Mokobara?
With the recent infusion of ₹100 crore, Mokobara is poised to capitalize on the burgeoning D2C market. The company plans to accelerate its retail and global expansions, including opening stores in the UAE. This move aligns with the growing demand for premium travel and lifestyle products, offering Mokobara a significant opportunity to capture a larger market share.
Future fundraising seems promising, given the strong investor confidence demonstrated in the Series B round. As Mokobara scales operations and enhances its product lines, additional funding rounds could be on the horizon to support these ambitious growth plans.
However, the path forward is not without challenges. Intense competition in the luggage and accessories market, coupled with the complexities of international expansion, could pose significant hurdles. Navigating these challenges will be crucial for Mokobara to maintain its growth trajectory and achieve its long-term goals.
Use Clay to Get Funding Data
Sales professionals, if you're looking to access comprehensive fundraising data on companies like Mokobara and gather other critical business insights, Clay's platform is your go-to resource.
Sign up for free on Clay and start leveraging the power of detailed, up-to-date information to drive your sales strategies and close more deals.
