Miraggio, a brand specializing in fashion accessories, announced on Tuesday that it secured INR 10 crore in a pre-Series A funding round, as stated in a press release.
With the newly secured investment, the company envisions elevating Miraggio to unprecedented heights, as outlined in the press release.
“This investment paves the way for a future where Miraggio sets the standard for opulent elegance, inspiring discerning individuals to elevate their style to new heights.” said, Mohit Jain, Founder and CEO, Miraggio.
Furthermore, the company has set its sights on attaining an annual recurring revenue (ARR) goal of INR 100 crore by 2024. This financial milestone will fuel the expansion of its product offerings, including the introduction of new categories such as backpacks and wallets.
“Miraggio, under the leadership of Mohit, was able to grow 3x in revenue over 12 months while remaining profitable making it a compelling investment opportunity,” said Devarat Jatia, CIO, Seven Rivers Holdings.
Founded in 2020, the company asserts that it has experienced a remarkable 140 percent year-over-year (YoY) growth and serves approximately 2 million customers.