D2C luggage brand Mokobara attracts $12-M from Peak XV, others

Direct-to-consumer (D2C) luggage brand Mokobara has raised USD 12 million (INR 100 crore) in its latest round of funding led by Peak XV Partners at a post-money valuation of USD 80 million.Peak XV Partners invested around USD 9.4 million. The rest came from Sauce VC and Saama Capital. The company, founded in 2020, has raised USD 20 million so far.In FY 2023, Mokobara’s operating revenue grew over four times to INR 53 crore, while its losses widened to INR 8 crore. The company operates multiple stores in Bengaluru, Delhi, Mumbai and Pune, and plans to open 25 more stores shortly.