Homegrown fashion accessories brand Miraggio has announced the successful closure of its Series A funding round, raising ₹55 crore (approximately $6.5 million). The round was led by RPSG Capital Ventures and Client Associates Alternate Fund, with participation from Prath Ventures.
This investment will support the brand’s focus on expanding its product portfolio, building a stronger supply chain network across Asia, and strengthening its omnichannel presence. The brand plans to introduce over 500 new products in the next 18 months and expand further into the handbag and accessories categories. A core area of emphasis will be the creation of an accessible premium range that reflects global fashion trends while catering to India’s modern consumers.
Founded in 2019 by Mohit Jain, Miraggio has processed more than 1 million orders to date. With growing demand across Tier 2 and 3 cities, the brand aims to make fashion-forward handbags more available to customers through physical retail as well as digital platforms. The company will use the funds to deepen its supply chain, sourcing from multiple countries, while investing in experiences that connect directly with customers in both existing and new markets.
Mohit Jain, Founder & CEO, Miraggio, said, “We are thrilled to welcome our new investors on board and truly value their belief in Miraggio’s long-term vision. This funding marks a pivotal moment for us as we accelerate our journey toward becoming an omnichannel fashion handbag and accessories brand.”
According to market forecasts, India’s handbag segment is projected to grow by USD 2 billion between 2024 and 2029. Miraggio’s plans are aligned with this growth, positioning itself to meet the increasing demand for high-quality accessories among new-age consumers.
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