Updated on Sep 28, 2026

Mokobara Secures Rs 170 Crore Series C Funding to Expand Travel & Lifestyle Business

Fashion News Smit Rangras5 Mins reading time

Bengaluru-based travel and lifestyle brand Mokobara has secured Rs 170 crore in Series C funding. According to Indian Retailer, Sauce.vc led the round with participation from Peak XV Partners, AYRA Ventures and Niveshaay Investment.

The funding comes as Mokobara continues expanding its physical retail presence. The brand is also broadening its product portfolio across luggage, bags and travel accessories.

What Happened?

Sauce.vc led the Series C round with a reported investment of Rs 109 crore. Peak XV Partners, AYRA Ventures, Niveshaay Investment and other existing investors also participated.

The funding marks another major capital infusion for Mokobara. The company previously raised $12 million in 2024 at an $80 million valuation.

Funding Structure Shows a Gap

The headline Series C amount stands at Rs 170 crore. However, regulatory filings show around Rs 90.66 crore in newly issued shares.

Zane’s analysis notes that the filings account for about Rs 90.66 crore. The remaining amount has not been clearly explained in the available reporting.

This difference is important when assessing the funding. Primary capital increases a company’s cash reserves, while secondary transactions can provide liquidity to existing shareholders.

The funding structure therefore appears to include more than the primary share issuance visible in the filings. The exact composition of the full Rs 170 crore round remains unclear.

A Fast-Growing Travel Brand

Mokobara was founded in 2019 by Sangeet Agrawal and Navin Parwal. The founders previously worked at Urban Ladder before launching the travel and lifestyle company.

The brand sells luggage, travel bags, wallets, kits and sling bags through its website and online marketplaces. It has also built a growing physical retail network across India.

Startup Spotlight’s coverage reports that Mokobara operates around 50 stores across Bengaluru, Delhi, Mumbai and Pune.

The company also entered the UAE in February 2025. Its first international store opened at BurJuman Mall in Dubai, marking an important step beyond the Indian market.

Revenue Nearly Doubles

Mokobara’s operating revenue nearly doubled in FY25. Revenue reached Rs 230.2 crore, compared with Rs 117.4 crore in FY24.

However, the company remained loss-making during the year. Its net loss increased to around Rs 10.2 crore in FY25 from Rs 4.2 crore in the previous year.

The contrasting figures highlight the company’s rapid expansion. Revenue is growing strongly, but the business still needs to improve profitability as it scales.

Retail Expansion Takes Priority

Physical retail is becoming an important part of Mokobara’s growth strategy. Stores give customers an opportunity to experience luggage before purchasing.

This can be particularly useful for products where dimensions, storage capacity and materials influence buying decisions. Physical stores also increase brand visibility in high-traffic markets.

The company’s expanding retail network complements its online business. Together, these channels allow Mokobara to reach consumers at different stages of the purchase journey.

Moving Beyond Luggage

Mokobara has gradually expanded beyond conventional suitcases. Its portfolio includes backpacks, travel bags, wallets, kits, slings and other accessories.

This wider assortment creates more opportunities for repeat purchases. A customer who first buys luggage can later return for smaller travel or everyday products.

The strategy also supports Mokobara’s positioning as a broader travel and lifestyle brand. However, a larger portfolio requires careful inventory planning and supply-chain management.

What This Means for D2C Brands

Mokobara’s latest funding reflects continued investor interest in India’s premium D2C consumer brands. The company combines digital commerce with an expanding offline network.

Its growth also shows how a focused product category can develop into a broader lifestyle proposition. Luggage serves as the entry point, while adjacent categories create additional opportunities.

The funding structure has a notable difference between the headline amount and the fresh capital visible in filings. Venture Capital Tracker reports that the Series C is valued at around ₹170 crore, while filings show approximately ₹90.7 crore in new share issuance. The remaining amount appears to involve secondary transactions, although the exact split has not been formally reconciled.

The Road Ahead

Mokobara now has additional capital to support its retail and product expansion. Its growing store network can strengthen consumer access while its digital channels continue supporting nationwide reach.

International expansion also creates another growth opportunity. The UAE entry gives the company a base for testing its proposition outside India.

At the same time, profitability will remain important. As Mokobara expands its stores and product range, inventory efficiency and operating costs will influence the next stage of growth.

About Mokobara

Mokobara is a Bengaluru-based travel and lifestyle brand founded in 2019 by Sangeet Agrawal and Navin Parwal. The company sells luggage, travel bags, wallets, kits, slings and other lifestyle products through online and offline channels.

Sources Used