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Travel brand WanderOn bags Rs 54 Cr in Series A from DSG and CAAF

EntrackrEntrackr · 8h ago
Travel brand WanderOn bags Rs 54 Cr in Series A from DSG and CAAF
Medial

Experiential travel brand WanderOn has raised Rs 54 crore in Series A funding round co-led by DSG Consumer Partners and CAAF. The fresh funds will be utilized to build more immersive and accessible travel experiences, expand destination portfolio, strengthen high-demand categories such as adventure, sports-led and wellness travel, and invest further in technology to enhance the entire traveller journey, WanderOn said in a press release. Co-founded in 2017 by Chirag Jain, Ravi Khokher, Madhusudan Jaju, and Govind Gaur, WanderOn is a travel-tech company that offers community-focused, curated group travel experiences (road trips, treks, custom tours) for millennials and Gen Z in India and abroad, emphasizing unique offbeat destinations and hassle-free, budget-friendly trips with strong social media presence. The platform focuses on creating memorable travel communities for young adults. The Gurugram-based company aims to reach travellers across the country, offering a seamless, intuitive end-to-end journey. Operating on a direct-to-consumer (D2C) model, the platform specializes in experiential group travel packages, leveraging digital storytelling, influencer collaborations, and organic marketing to attract adventure enthusiasts. Its revenue model is driven by pre-booked travel packages, add-on experiences, and exclusive brand partnerships. WanderOn claims that it has taken over 1 lakh travellers across more than 40 domestic and international destinations, with a strong share driven by repeat customers. It has scaled to over a Rs 100 crore business on a bootstrapped model, while doubling year-on-year in the post-Covid period. It may directly or indirectly compete with other notable players in this space such as Thrillophilia, TravelTriangle, Tripoto, and Holidify.

D2C luggage brand Mokobara bags $12 million in new Peak XV-led round

EntrackrEntrackr · 1y ago
D2C luggage brand Mokobara bags $12 million in new Peak XV-led round
Medial

Direct-to-consumer (D2C) luggage brand Mokobara has raised $12 million or Rs 100 crore in a Series B funding round led by Peak XV Partners (formerly Sequoia Capital India). This is the first funding round of the Bengaluru-based company in 2024. Existing investors Sauce VC and Saama Capital have also participated in the round. The board at Mokobara has passed special resolutions to issue 4,183 Series B compulsory convertible preference shares (CCPS) at an issue price of Rs 2,39,110.51 per share to raise Rs 100 crore, the company’s regulatory filings with the Registrar of Companies show. Peak XV Partners led the round with Rs 78.26 crore while Sauce VC and Saama Capital poured in Rs 15.47 crore and Rs 6.29 crore, respectively. As per startup intelligence platform TheKredible, Mokobara has been valued at around Rs 700 crore or $84.5 million (post-money). The company has raised around $23.6 million to date. Before this fundraise, it raised $3.6 million in funding from Saama Capital, Sauce VC, and Alteria Capital in October 2023. Founded in 2020 by former Urban Ladder executives Sangeet Agrawal and Navin Parwal, Mokobara offers a wide range of wallets, travel bags, kits, sling bags, and other travel accessories. Post-allotment of the round, Peak XV Partners own 11.18% shares while Saama Capital and Sauce VC have 14.32% and 19.41% stakes in the company. Visit here for more details. Mokobara’s revenue from operations jumped 4.4X to Rs 53.27 crore during FY23 from Rs 12.18 crore in FY22. As per TheKredible, its losses surged 78.5% to Rs 8.21 crore in FY23 as compared to Rs 4.6 crore in FY22.

BeepKart bags $6.5 Mn in extended Series A round

EntrackrEntrackr · 1y ago
BeepKart bags $6.5 Mn in extended Series A round
Medial

BeepKart, a full stack retailer of used two-wheelers, has extended its Series A round by securing Rs 54 crore (approximately $6.5 million) from its existing investors including Chiratae Ventures, Stellaris Venture Partners, and Vertex Ventures. The board at BeeKart has passed a special resolution to issue 45,203 Series A2 CCPS at an issue price of Rs 11,935 each to raise Rs 54 crore, its regulatory filing accessed through Registrar of Companies shows. BeepKart has also received a part payment of Rs 33.2 crore from Chiratae and Stellaris Venture partners. The remaining amount is expected to follow shortly. BeepKart last raised $9 million in its Series A round led by Vertex Ventures in October 2022. Entrackr exclusively reported the development. According to the data intelligence platform TheKredible, the company has secured around $18.5 million to date and is valued at around Rs 362 crore $44 million (post-allotment of new shares) Founded by Hemir Doshi and Abhishek Saraf, BeepKart sells used two-wheeler brands such as Honda, TVS, Suzuki, Bajaj, Yamaha, Hero, KTM, among others. The company differentiates itself from online classifieds as it also provides reliable spare parts, services, accessories, loans, and insurance for used bikes through network partners. The company currently operates in Bengaluru and Chennai and plans to expand its operations to other cities. BeepKart was a pre-revenue stage firm till FY22 but it posted decent growth during FY23. The company reported Rs 21.86 crore revenue in the fiscal year ending March 2023 while its losses stood at Rs 27.88 crore in the same period. It directly competes with CredR, OLX, and Bike Bazaar.

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