Mokobara, the Bengaluru-based D2C luggage and travel accessories brand, will raise ₹90.66 crore, or about $9.5 million, through a Series C funding round. The deal will value the company at around ₹1,930 crore. This marks a 2.76X jump from Mokobara’s ₹700 crore valuation in its Series B round. Entrackr reported the development after reviewing the company’s regulatory filings.
The proposed Mokobara funding round reflects investor interest in premium consumer brands that combine digital sales with offline retail growth. Existing backer Sauce VC will lead the round. Peak XV Partners, Niveshaay Sambhav Fund, Ayra Ventures and other existing investors will also participate.
Mokobara Series C Funding Details
Mokobara’s board has approved the issuance of 1,300 Series C compulsorily convertible preference shares, also known as CCPS. The company has priced these shares at ₹6,15,415.32 each. It will also issue 199 equity shares at ₹5,35,798 per share.
Sauce VC will invest ₹57.68 crore in the round. Niveshaay Sambhav Fund will contribute ₹13.07 crore. Ayra Ventures will invest ₹10.47 crore.
Peak XV Partners will add ₹8.41 crore. Vivek Jain will contribute ₹1.03 crore.
Mokobara will use the fresh capital to support growth, strengthen its financial position, and build long-term resources.
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Mokobara Valuation Jumps to ₹1,930 Crore
The proposed Mokobara Series C will raise the brand’s estimated valuation to ₹1,930 crore, or nearly $203 million. The valuation is 2.76 times higher than its earlier ₹700 crore valuation.
Mokobara last raised institutional capital in February 2024. It secured $12 million, or ₹100 crore, in a Series B round led by Peak XV Partners. Sauce VC and Saama Capital also joined that funding round.
After the new allotment, Sauce VC will hold a 20.48% stake in Mokobara. Peak XV Partners will hold 16.76%. Saama Capital will retain 13.65%.
Co-founder Sangeet Agrawal will hold a 21.46% stake. Co-founder Navin Parwal will hold an 11.25% stake.
Mokobara Revenue Nearly Doubles in FY25
Sangeet Agrawal and Navin Parwal founded Mokobara in 2020. Both founders previously worked at Urban Ladder. The company sells luggage, bags, backpacks, totes, slings, wallets, and travel accessories.
Mokobara targets India’s premium travel and lifestyle segment. Its revenue from operations rose 96% to ₹230.15 crore in FY25. The company reported ₹117.44 crore in revenue in FY24.
Its net loss rose to ₹10.18 crore in FY25 from ₹4.24 crore a year earlier. The numbers show the costs involved in building a larger consumer brand and expanding its market presence.
Also Read: Flipkart Eyes $2.5 Billion Pre-IPO Funding Round Ahead of Market Debut
D2C Luggage Market in India Gains Momentum
The D2C luggage market in India continues to attract consumer interest and investor attention. Travel demand, premiumisation, and online shopping have helped new-age travel brands grow their reach.
Mokobara competes with brands such as Uppercase, Nasher Miles, Acefour Accessories and Escape Plan. The proposed funding round gives Mokobara more capital to compete in India’s fast-growing travel gear market.
The company has not yet completed the Series C transaction. However, the proposed investment and valuation jump highlight Mokobara’s growing position among leading Indian D2C brands.
