Mokobara Raises ₹91 Cr at ₹1,930 Cr Valuation

Premium travel and luggage brand Mokobara is set to raise ₹90.66 crore, or around $9.5 million, in a Series C round, returning to the funding market more than two years after its last raise. Existing investor Sauce VC is leading the round, with Peak XV Partners, Niveshaay Sambhav Fund, Ayra Ventures and others participating.

Sauce VC will invest ₹57.68 crore, making it the largest contributor to the round. Niveshaay Sambhav Fund and Ayra Ventures will put in ₹13.07 crore and ₹10.47 crore, respectively, while Peak XV will invest another ₹8.41 crore. Mokobara plans to use the proceeds to support growth, strengthen its financial position and build longer-term resources.

The funding also marks a sharp valuation jump. Entrackr estimates Mokobara will be valued at around ₹1,930 crore, or $203 million, after the round — roughly 2.76X its ₹700 crore valuation during its Series B in 2024. Following the allotment, Sauce VC is expected to hold 20.48%, while Peak XV and Saama Capital will own 16.76% and 13.65%, respectively.

Founded in 2020 by former Urban Ladder executives Sangeet Agrawal and Navin Parwal, Mokobara has built its identity around premium, design-led luggage and travel accessories. Its portfolio now spans suitcases, backpacks, totes, slings, wallets and other travel products, positioning it against brands such as Uppercase, Nasher Miles and Escape Plan.

The valuation increase comes alongside strong top-line growth. Mokobara’s operating revenue nearly doubled to ₹230.15 crore in FY25 from ₹117.44 crore a year earlier, although its net loss widened to ₹10.18 crore from ₹4.24 crore. The Series C gives Mokobara more capital to scale, but sustaining its premium valuation will increasingly depend on converting rapid revenue growth into stronger profitability.