VC Fund Investments
Luggage brand Nasher Miles raises $4-M from Singularity AMC, angels
Mumbai- based Nasher Miles , a digital-first luggage brand, has completed a USD 4 million bridge round, valuing the company at USD 30 million. The round attracted over 40 investors, including the Singularity AMC managed Singularity Early Opportunities Fund, Narendra Rathi (SoftBank Vision Fund), Sulabh Arya (Goldman Sachs Growth Equity), and Mohit Goyal (Ex-CVC Capital Partners).The funds will be used to support Nasher Miles' omnichannel expansion plans, including expanding its offline presence to 1,000 multi-brand outlets across India by the end of the year, opening 3-5 exclusive brand outlets, strengthening its quick commerce presence in select cities, and increasing domestic manufacturing capacity to 70-75% by December 2024.Founded in 2017 by Lokesh Daga, Abhishek Maniklal Daga, Shruti Kedia Daga, Nasher Miles sells hard side and soft side luggage, backpacks, and duffle bags. It had recently raised funding as part of Shark Tank.
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