Mokobara is a direct-to-consumer (D2C) luggage brand that has recently raised $6.5 million in a Series A funding round. along with Deepika Padukone this round is backed by Saama Capital and Sauce VC.
The company Mokobara is planning to utilize the fresh funding capital in the following ways:
Mokobara has a long list of investors including Mamaearth, Urban Ladder, Licious, Livspace, and Nicobar, Good Earth.
Mokobara was founded by Sangeet and Navin Parwal in the year 2020. The company has a future goal of elevating the joy of travel.
Kiranbir Nag, partner, Saama has mentioned his words that state the aim of Mokobara has recognized the massive opportunity that exists in the travel space.
“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 of Mokobara.
“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.
“We're building a brand for the long-term and, to do that, we've prioritized creating a strong financial foundation and a company that solves real pain points of travel through design. What allows us to invest in making exceptionally high-quality products is the fact that we sell directly to consumers without any middlemen," Navin said.
“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," he said.