HomeNewsLifestyle brand Assembly secures $2.1M from Prath Ventures, and other investors

Lifestyle brand Assembly secures $2.1M from Prath Ventures, and other investors

Assembly, a New Delhi-based travel and lifestyle startup, has secured $2.1 million (approximately INR 17.4 crore) in an undisclosed funding round. The funding was spearheaded by Prath Ventures, with contributions from Anicut Capital, Blume Founders Fund, and several angel investors.

The startup plans to utilize the new funds to grow its team and product offerings, with an increased emphasis on marketing and branding efforts.

Established in 2019 by Aditya Khanna and Mohit Garg, Assembly provides mass-premium luggage, backpacks, and travel accessories designed specifically for the modern traveler.

“This year, we want to connect with a larger audience and expand our range of offerings,” he said.

Continue Exploring: D2C luggage brand Mokobara secures $12 million in funding from Peak XV Partners, existing investors

The startup also made an appearance on Shark Tank Season 3, showcasing their impressive track record of assisting over 200,000 travelers in the past three years. They aim to establish themselves as India’s premier and most considerate travel store within the next 2 to 5 years. Despite their ambitious vision, the founders were unable to secure any deals during their appearance on the show.

Prath Ventures, founded in May 2022 by Piyush Goenka and Harmanpreet Singh, backs early-stage consumer businesses and their supporting entities. With an objective to invest fresh capital in around 15 startups, Prath Ventures is dedicated to driving growth and innovation within the consumer sector.

According to Prath Ventures vice president Saptarishi Sen, “Assembly is well-positioned to capitalise on this developing trend thanks to its strong supply chain skills and attractive design. Our collaboration with them to create a cutting-edge competitor brand in the luggage industry excites us.”

This is the third investment made by Prath Ventures from its inaugural fund, which recently reached its second closing at INR 225 Cr. Previously, the fund had invested in the D2C F&B startup, Jimmy’s Cocktails.

Continue Exploring: Safari Industries raises INR 229 Crore in funding from Lighthouse’s AIF, eyes expansion in Indian luggage market

Latest articles

J&J Snack Foods expands portfolio with acquisition of Thinsters cookie brand

J&J Snack Foods Corp. has completed the acquisition of the Thinsters cookie brand from...

Unilever’s Wall’s expands handheld ice cream range with trio of new products

Unilever's Wall's has unveiled a trio of new products under its Twister, Cornetto, and...

Retail food inflation eases to 8.52% in March 2024 as prices of pulses and oils decline marginally

Retail food inflation eased slightly to 8.52% in March 2024 from 8.66% in the...

Aplós revolutionizes refreshment with new line of functional alcohol-free canned cocktails

Aplós, the beverage brand, has unveiled a series of ready-to-drink alcohol-free cocktails that are...

Related Articles

Fashion jewellery brand salty secures INR 5.4 Crore for team expansion and product innovation

Fashion jewellery brand Salty has secured INR 5.4 crore in a recent funding round,...

HairOriginals raises $2.75M in pre-Series A round; eyes rapid expansion in India

HairOriginals, a direct-to-consumer (D2C) brand specializing in hair extensions and wigs, has successfully concluded...

Burger Singh secures Pre-Series B funding, plans rapid expansion with express kiosks

Burger Singh, the homegrown quick-service restaurant chain, announced on Thursday that it has secured...
× Drop a, Hi?