$1.2 M Pre-Series A funding secured by fashion accessories firm Miraggio
In its pre-Series A funding round, which was co-led by Seven Rivers Holding and Magnetic, fashion accessories company Miraggio has raised $1.2 million.
The money raised will go toward growing the company’s product line to include backpacks, wallets, and SLGs as well as marketing projects like augmented reality technology and partnerships with big-box stores.
Miraggio, a line of high-end handbags founded by Mohit Jain, aims to set a new standard for fashion.
Miraggio, which began operations in 2020, asserts that it has grown 140% YoY and plans to reach its target of Rs 100 crore in annual recurring revenue (ARR) by 2024. The company serves approximately 2 million users.
The Delhi-based company was the recipient of the 2023 Peta Vegan Fashion Award.
Seven Rivers Holding makes investments in private equity and venture capital as well as the public markets. With over thirty companies in its portfolio, including six unicorns, Magnetic is an advisory lead investment firm.
