D2C startup Mokabara secures $3.6 million funding from current investors

Mokobara, a direct-to-consumer (D2C) backpack startup, recently received $3.6 million in funding from its previous investors, confirming their belief in the company's potential. Saama Capital, Sauce VC, and Alteria Capital are among the investors involved in this financial infusion.

The Bengaluru-based firm underscored its commitment to expansion by authorizing the allotment of 2,233 Series A1 compulsorily convertible cumulative preference shares (CCPS) to 27 investors at a premium of Rs 1,34,320.40 per share, as indicated in regulatory filings.

Saama Capital, in particular, has made a significant investment of $1.6 million to this funding round. This cash infusion appears to be a critical component of Mokobara's Series B investment, and it also alludes at Peak XV Partners' probable involvement, emphasizing the company's commitment to developing and bolstering its D2C backpack business.

Mokobara's ability to raise large finance from its existing investors demonstrates the market's trust in its business model and future. This cash boost comes at a time when the company is undertaking significant measures to strengthen its position in the competitive D2C sector. With the Series B investment gathering steam and the likely involvement of Peak XV Partners, Mokobara is positioned for major expansion and additional development in the backpack industry.