Zouk a direct-to-consumer bags and luggage brand raises $ 10 million in its Series B funding round that is led by, Aavishkaar Group . This round saw the active participation of Stellaris Venture Partners, Titan Capital, Sharrp Ventures, and the JJ Family, bringing Zouk’s total funding to $14.5 million.

With the fresh capital, Zouk will focus on expanding its network of exclusive brand outlets, aiming for a total of 75 stores. The firm also plans to enhance its marketing efforts and supply chain while investing in talent across various verticals.

It was founded in the year 2015 by Disha Singh and Pradeep Krishnakumar, Zouk which specializes in handmade products, also includes laptop bags, tote handbags, sling bags, and wallets, all crafted from 100% vegan leather sourced in India. With over 700,000 customers served, the startup is also expanding into the luggage segment with new backpacks and trolley bags, anticipating strong growth in this area.

Sources indicate that Zouk will be valued in the range of $50 million (approximately Rs 400 crore). According to the startup data intelligence platform TheKredible, the Mumbai-based startup was valued at around $7 million during its last round.

At the time of the last funding round, co-founders Disha Singh and Pradeep Krishnakumar each held a 31% stake in the company, while Stellaris was the largest external shareholder with a 19.63% stake.

For the fiscal year ending in March 2023, Zouk has reported the revenue of Rs 47.41 crore, up from Rs 21.82 crore in FY22. However, the company’s losses increased to Rs 10.55 crore, compared to Rs 77 lakh in the previous year. Zouk has yet to file its numbers for FY24.

Lead investor Aavishkaar Capital has previously backed several startups, including AgroStar, Altum Credo,Ergos, GoDesi, (Milk Mantra), and Newtrace.