Mokobara, a direct-to-consumer (D2C) backpack startup, has recently received a significant investment of $3.6 million from its current backers, underscoring their strong belief in the company’s promising future. Notable investors participating in this financial infusion encompass Saama Capital, Sauce VC, and Alteria Capital.
Based in Bengaluru, the startup reaffirmed its dedication to expansion by authorizing the issuance of 2,233 Series A1 compulsorily convertible cumulative preference shares (CCPS) to 27 investors. These shares were allocated at a premium of INR 1,34,320.40 per share, as documented in their regulatory filings.
Notably, Saama Capital has played a significant role in this funding round by contributing $1.6 million. This injection of capital appears to be a crucial element of Mokobara’s Series B round, and it also raises the possibility of Peak XV Partners becoming involved, highlighting the company’s commitment to further expanding and strengthening its direct-to-consumer backpack business.
Mokobara’s successful acquisition of substantial funding from its current investors reflects the market’s trust in its business model and future potential. This injection of funds arrives as the company strategically positions itself in the competitive direct-to-consumer market. With the Series B round gaining momentum and the potential participation of Peak XV Partners, Mokobara seems well-positioned for substantial growth and continued advancements in the backpack industry.