Mokobara, an Indian D2C brand specializing in luggage and travel accessories, has raised ₹170 crore (approximately $18 million) in a Series C funding round led by Sauce.vc, marking a significant boost as the company aims to capitalize on the expanding travel and premium luggage segments in India and abroad.
- Raised ₹170 Cr (~$18 Mn) in Series C led by Sauce.vc
- Operating revenue nearly doubled to ₹230 Cr in FY25
- Entered UAE market with first Dubai store in 2025
What happened
Mokobara successfully closed a ₹170 crore Series C funding round, with Sauce.vc contributing ₹109 crore, and other investors including Peak XV Partners and AYRA Ventures participating. Board filings reveal the issue and allotment of Series C preference shares though clarity remains about the full extent of the fundraise allocation.
Founded in 2019, Mokobara markets luggage, travel bags, wallets, and accessories through its own e-commerce platform, marketplaces like Amazon and Flipkart, and approximately 50 physical stores across Indian metros. The brand also expanded internationally by opening a store in Dubai's BurJuman Mall in early 2025.
Why it matters
Mokobara operates in India’s rapidly growing luggage market, which is projected to reach ₹26,700 crore by 2028, driven by increased travel activity, a consumer shift to branded and premium products, and evolving lifestyle preferences. The capital injection is poised to help Mokobara strengthen its product offerings, retail footprint, and marketing efforts.
Despite reporting a loss of ₹10.2 crore in FY25—more than doubling from the previous year—the company nearly doubled its operating revenue to ₹230.2 crore, signaling robust top-line growth and validating investor confidence. Mokobara’s competitive landscape includes both startup brands like Wildcraft and retail incumbents such as VIP and American Tourister.
What to watch next
Market watchers will be keen to see how Mokobara deploys the fresh capital, particularly regarding scaling its international presence beyond the UAE and enhancing direct-to-consumer digital sales channels amid evolving consumer preferences.
Further financial disclosures, especially for FY26, will provide insight into whether the company can sustain its revenue momentum while managing losses, as well as its ability to capture more market share in an increasingly competitive luggage and travel accessories sector.