D2C startup Mokobara secures $3.6mn funding from current investors

• ByStartupStory     |    October 22, 2023

Direct-to-consumer (D2C) backpack startup, Mokobara, has recently secured substantial funding of $3.6 million from its existing investors, affirming their confidence in the company’s potential. The investors involved in this financial injection include Saama Capital, Sauce VC, and Alteria Capital. 

The startup, headquartered in Bengaluru, further underlined its commitment to growth by approving the allotment of 2,233 Series A1 compulsorily convertible cumulative preference shares (CCPS) to 27 investors, with a premium of Rs 1,34,320.40 per share, as indicated in their regulatory filings.

In particular, Saama Capital has made a noteworthy contribution of $1.6 million in this funding round. This infusion of capital seems to be a pivotal part of Mokobara’s Series B round, and it also hints at Peak XV Partners’ potential involvement, which underscores the company’s dedication to expanding and fortifying its D2C backpack business.

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Mokobara’s ability to secure substantial funding from its existing investors showcases the market’s confidence in its business model and prospects. This financial boost comes at a time when the company is making strategic moves to solidify its position in the competitive D2C market. With the Series B round gathering momentum and the potential entry of Peak XV Partners, Mokobara appears poised for significant growth and further development in the backpack industry.

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