Funding · Commerce & Consumer Brands

Mokobara secures Rs 170 crore Series C round

By Startup Enthusiast · 2 September 2026

What they do

Mokobara designs and retails bags, luggage, and travel accessories through its website, online portals, and 52 physical stores in India

The brand announced a Rs 170 crore Series C round led by Sauce VC, which includes secondary transactions for employees

Its valuation rose nearly threefold to Rs 1,930 crore as annual revenue almost doubled to Rs 230.2 crore in FY25

Sauce VC led a Rs 170 crore Series C investment into the travel brand.
Part of the total deal value covers secondary transactions (where early shareholders sell stock and the money goes to them rather than the company) for staff and stock options.
The company's post-investment worth rose to Rs 1,930 crore, up 2.76 times from its earlier round.
Directors cleared the allotment of 1,300 Series C CCPS (preference shares that must convert into ordinary equity) alongside 199 equity shares.
Regulatory filings show a primary injection of Rs 90.66 crore from Sauce VC, Peak XV Partners, Ayra Ventures, Niveshaay, and Vivek Jain.
Sauce VC remains the largest backer in the round, with other institutional funds taking minority portions.

Annual turnover jumped 96% to Rs 230.2 crore in FY25 from Rs 117.4 crore in FY24.
Net losses widened over the same fiscal period, moving to Rs 10.2 crore from Rs 4.2 crore.
The company previously raised $12M in February 2024 at a valuation of around $80M.

Mokobara offers premium travel items including luggage, backpacks, tote bags, sling bags, wallets, and travel accessories.
It sells products via its official website, Flipkart, Amazon, and 52 brick-and-mortar stores across India.
Its domestic retail footprint spans Bengaluru, Delhi, Mumbai, Pune, Hyderabad, Chennai, Ahmedabad, Jaipur, Indore, and Lucknow.
The company entered foreign markets by launching an outlet at Dubai's BurJuman Mall in February 2025.
Co-founders Sangeet Agrawal and Navin Parwal hold equity stakes of 21.46% and 11.25% respectively after the new allotment.

Management will allocate the fresh capital toward expansion targets, stronger finances, and durable operational assets.

Product: Luggage, backpacks, wallets and travel accessories
Customers: Indian travelers and professionals seeking quality luggage and travel gear
How it makes money: Direct-to-consumer brand with online store and growing physical retail presence
What sets it apart: Strong supply chain control with manufacturing partnerships and retail expansion