Mokobara, a direct-to-consumer luggage and travel accessories brand, raised ₹170 crore (about $18 million) in a Series C funding round led by Sauce.vc. The round included participation from Peak XV Partners, AYRA Ventures, Niveshaay Investment, and existing investors. Sauce.vc's vice president Karan Kathpalia confirmed the lead investment of ₹109 crore via a social media post. The startup has not yet issued a formal statement about the fundraise, according to inc42.com.
Founded in 2019 by Sangeet Agrawal and Navin Parwal, Mokobara offers a range of products including luggage, travel bags, wallets, kits, and sling bags through its online platform and marketplaces like Amazon and Flipkart. The company also operates about 50 physical stores across Bengaluru, Delhi, Mumbai, and Pune. In February 2025, Mokobara expanded internationally with its first store in Dubai’s BurJuman Mall. Registrar of Companies filings accessed by inc42.com show the board approved issuing 1,300 Series C compulsorily convertible preference shares at ₹6.2 lakh each, totaling ₹80 crore, and 199 shares at ₹5.4 lakh each, adding ₹10.7 crore.
The ₹170 crore raise positions Mokobara to compete more aggressively with established players like Wildcraft in the travel and lifestyle segment. The infusion will likely support its expansion plans both domestically and internationally, including store rollouts and product development. The funding round reflects growing investor interest in D2C brands targeting travel and lifestyle consumers, a sector that has seen increased traction post-pandemic as consumer spending on travel accessories rises.
The Series C round led by Sauce.vc marks a major capital milestone for Mokobara, which has steadily scaled since its 2019 inception. The company’s international debut in Dubai earlier this year and its network of 50 stores underline its growth trajectory. The next key update will be the startup’s formal announcement and details on how it plans to deploy the ₹170 crore capital infusion, as noted by inc42.com.