Bengaluru-based direct-to-consumer (D2C) luggage and travel accessories brand Mokobara is set to raise ₹90.66 crore, or approximately $9.5 million, in a Series C funding round as the company looks to accelerate its growth and strengthen its financial position. The proposed round comes more than two years after its previous fundraise and is being led by existing investor Sauce VC, with participation from Peak XV Partners, Niveshaay Sambhav Fund, Ayra Ventures and other existing investors.
According to filings with the Registrar of Companies (RoC), Mokobara’s board has approved a special resolution to issue 1,300 Series C compulsorily convertible preference shares (CCPS) at an issue price of ₹6,15,415.32 per share. The company will also issue 199 equity shares at ₹5,35,798 per share. Together, these issuances are expected to generate the targeted ₹90.66 crore.
Sauce VC is leading the round with an investment of ₹57.68 crore. Niveshaay Sambhav Fund is set to invest ₹13.07 crore, while Ayra Ventures will contribute ₹10.47 crore. Peak XV Partners is participating with ₹8.41 crore, and investor Vivek Jain will invest ₹1.03 crore. The participation of existing backers highlights continued investor confidence in Mokobara’s business and growth prospects.
The funding is also expected to significantly increase Mokobara’s valuation. Entrackr estimates that the company’s valuation will rise 2.76 times to approximately ₹1,930 crore, or around $203 million, from ₹700 crore during its Series B round. This represents a substantial valuation premium over the company’s previous financing round. Mokobara plans to use the fresh capital to support its growth objectives, strengthen its financial position and build resources for long-term expansion.
Founded in 2020 by former Urban Ladder executives Sangeet Agrawal and Navin Parwal, Mokobara has built a D2C travel and lifestyle brand focused on the premium segment. Its portfolio includes luggage, bags, backpacks, totes, slings, travel accessories and wallets. The company has positioned itself around design-led products aimed at consumers looking for premium travel gear in India’s expanding organised luggage market.
Following the proposed allotment, Sauce VC is expected to become the company’s largest institutional shareholder with a 20.48% stake. Peak XV Partners will hold 16.76%, while Saama Capital will have a 13.65% stake. Co-founders Sangeet Agrawal and Navin Parwal are expected to retain 21.46% and 11.25%, respectively.
Mokobara’s operating performance has also expanded sharply. The company’s revenue from operations nearly doubled to ₹230.15 crore in FY25 from ₹117.44 crore in FY24, representing 96% year-on-year growth. However, the company continued to remain loss-making, with its net loss increasing to ₹10.18 crore in FY25 from ₹4.24 crore in the previous financial year.
The latest fundraise comes amid growing investor interest in India’s premium travel and luggage segment. Mokobara competes with other D2C brands such as Escape Plan, Uppercase, Nasher Miles and Acefour Accessories. The category has attracted significant funding as rising domestic and international travel creates opportunities for organised, premium luggage brands. At the same time, companies in the segment are facing cost pressures from raw materials, making efficient capital deployment increasingly important.
Mokobara’s proposed Series C therefore marks an important step in its next phase of expansion. If completed as planned, the ₹90.66 crore round would provide the company with additional capital to scale its operations while taking its estimated valuation close to ₹2,000 crore. The sharp valuation increase from the Series B round also signals continued investor confidence in Mokobara’s ability to build a sizeable premium travel and lifestyle brand in India.
 luggage and travel accessories brand Mokobara is set to raise ₹90.66 crore, or approximately $9.5 million..){kind=link}