The innovative D2C Luggage brand, Mokobara has captures Rs. 100 crores in series B funding round led by Peak XV partners – previously known as Sequoia Capital India. In the year 2024, this is the first funding round of the Bengaluru based travel essentials company.

The series B funding round have also saw participation from the company’s existing investors such as Sauce VC and Saama Capital.

The Bengaluru-based company will utilize these funds for expanding their business to tap even more customers in the major market cities such as Bengaluru, Delhi, Mumbai and others. As well, the company projected to use the capital to mark its offline footprints by launching more physical stores in prominent markets.

Next to the latest fund raise, Mokobara has lifted more than $23 million from a bunch of investors comprising Varun Alagh from Mamaearth and Ramakant Sharma from Livspace and others.

As per the report from TheKredible, the revenue of Mokobara from operations increased to 4.4x to 53.27 crore in FY23 from Rs. 12.18 crore in the FY22.

Established in 2019 by former Urban Ladder executives, Sangeet Agrawal & Nav
in Parwal, the D2C startup, Mokobara offers high-quality & classy designed laptop bags, suitcases & other luggage travel accessories that caters to the mid-premium to premium consumer groups.

The startup competes with the key players in the marketplace that have been for several years such as American Tourister, VIP, Samsonite & several other fixed companies.