Miraggio raises $6.5 million in funding round from RPSG Capital Ventures, others
Miraggio, a direct-to-consumer fashion handbag and accessories brand has raised Rs 55 crore ($6.5 million) in a funding round led by RPSG Capital Ventures and Client Associates Alternate Fund, with participation from Prath Ventures.
The company will utilise the funds to fuel its next phase of growth which includes diversification of product portfolio, retail expansion, and boosting supply chain.
It plans to launch around 500 new products over the next 18 months and build a stronger supply chain operation across Asia with sourcing from multiple countries.
Commenting on the funding, Mohit Jain, founder CEO of Miraggio in a statement said, 'This funding marks a pivotal moment for us as we accelerate our journey toward becoming an omnichannel fashion handbag and accessories brand. With a sharper focus on delivering elevated retail experiences, expanding our product portfolio, and building deeper connections with customers across India, we're excited to shape the next chapter of Miraggio's growth story.'
Abhishek Goenka, managing partner at RPSG Capital Ventures added, 'Miraggio is rapidly emerging as a defining force in India's fashion accessories space. In a highly fragmented and dynamic market, Miraggio stands apart in its ability to offer exceptional value for money, seamlessly combining aspirational design, quality, and experience with premium affordable pricing, making it especially relevant to India's new-age consumers.'
Founded in 2020, Miraggio retails from its direct-to-customer e-commerce store and multi-brand online marketplaces including Myntra, Nykaa Fashion, Flipkart, among others.
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