The D2C travel brand is set to raise ₹90.66 Cr as its valuation climbs to ~₹1,930 Cr, strengthening its position in India’s premium luggage and travel market.
Bengaluru-based D2C travel and luggage brand Mokobara is set to raise ₹90.66 crore ($9.5 million) in a Series C funding round, more than two years after its previous fundraise. The round is being led by existing investor Sauce VC, with participation from Peak XV Partners, Niveshaay Sambhav Fund, Ayra Ventures and other existing investors.
The fresh round is expected to value Mokobara at around ₹1,930 crore ($203 million), representing a 2.76X increase from its ₹700 crore valuation in the Series B round. In February 2024, the company had raised $12 million (₹100 crore) in Series B funding led by Peak XV Partners, formerly Sequoia Capital India.
Mokobara’s board has approved the issuance of 1,300 Series C compulsorily convertible preference shares at ₹6,15,415.32 per share and 199 equity shares at ₹5,35,798 per share. Together, the issue is expected to raise ₹90.66 crore.
Sauce VC will contribute ₹57.68 crore, making it the largest investor in the round. Niveshaay Sambhav Fund and Ayra Ventures will invest ₹13.07 crore and ₹10.47 crore, respectively, while Peak XV Partners will put in ₹8.41 crore. Vivek Jain will contribute ₹1.03 crore.
The funding will support Mokobara’s growth objectives, strengthen its financial position and help build long-term resources as the brand scales its consumer-first business.
Founded in 2020 by former Urban Ladder executives Sangeet Agrawal and Navin Parwal, Mokobara operates as a D2C travel and lifestyle brand focused on the premium segment. Its portfolio includes luggage, bags and backpacks, totes, slings, travel accessories and wallets.
The brand’s operating revenue nearly doubled to ₹230.15 crore in FY25 from ₹117.44 crore in FY24, registering 96% year-on-year growth. However, net loss also increased to ₹10.18 crore from ₹4.24 crore during the same period, highlighting the cost of scaling alongside rapid revenue expansion.
Following the allotment, Sauce VC will hold 20.48% in Mokobara, followed by Peak XV Partners at 16.76% and Saama Capital at 13.65%. Co-founders Sangeet Agrawal and Navin Parwal will hold 21.46% and 11.25%, respectively.
Mokobara competes with D2C travel brands including Escape Plan, Uppercase, Nasher Miles and Acefour Accessories. With fresh capital and a higher valuation, the company is positioning itself for further expansion in India’s growing travel gear and lifestyle market.
The round comes as Mokobara builds its position in premium travel, where product breadth and direct consumer access remain central to its expansion strategy. The wider portfolio supports consumer engagement across India’s travel market.
Source: Based on reporting by Entrackr, with additional editorial adaptation and analysis.
