Fashion handbag and accessory brand Miraggio raised $6.5 M from RPSG Capital
A funding round led by RPSG Capital Ventures and Client Associates Alternate Fund has raised $6.5 million (Rs 55 crore) for the Delhi-based fashion handbag and accessory brand Miraggio. Prath Ventures took part in the round as well.
Miraggio has now raised $7.7 million in funding, having previously raised $1.2 million in 2023.
The money raised will go toward team building, brand development, technology advancements, and retail expansion.
Within the next 18 months, the company intends to introduce over 500 new products and open 15 to 20 physical stores. These consist of small leather goods, laptop bags, backpacks, clutches, and mini bags.
Miraggio was established in 2019 by Mohit Jain and specializes in designing and selling accessories and handbags for Indian women. It mainly sells its products online and on its own website, offering a variety of items in categories like shoulder bags, crossbody bags, and tote bags.
According to the company, it has already fulfilled more than a million orders. Online marketplaces account for the remaining 25% of its sales, with its own website accounting for about 25%.
In tier I, tier II, and tier III cities, the brand targets women between the ages of 18 and 35.
