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Luggage brand Nasher Miles bags $4 Mn in bridge round

EntrackrEntrackr · 11m ago
Luggage brand Nasher Miles bags $4 Mn in bridge round
Medial

Nasher Miles, a digital-first luggage brand, has raised $4 million in its bridge round to Series A from Singularity Early Opportunities Fund, Narendra Rathi (SoftBank Vision Fund), Sulabh Arya (Goldman Sachs Growth Equity) and Mohit Goyal (CVC Capital Partners) amongst others. As per the company, the funds raised at a post money valuation of $30 million. Earlier in February this year, the Mumbai-based startup had raised funds from all five judges in the Shark Tank India-3 by securing a valuation of Rs 200 crore ($23.8 million). The proceeds will be used to support Nasher Miles’ omnichannel expansion plans. It aims to expand its offline presence to 1,000 multi-brand outlets across India by the end of the calendar year, while also opening 3-5 exclusive brand outlets this financial year. Additionally, Nasher Miles plans to strengthen its quick commerce presence in select cities and increase its production capacity in India, targeting 70-75% domestic manufacturing by December 2024. Launched in 2017 by Shruti Kedia Daga, Lokesh Daga, and Abhishek Daga, Nasher Miles is an internet-first brand of travel bags & luggage. Its product catalog includes corporate backpacks, outdoor travel bags, luggage sets, laptop roller cases, and accessories like luggage covers, neck pillows & masks, backpack rain covers, and more of different customized prints and colors. Nasher claims to have appointed over 20 distributors nationwide and established a presence in 150 stores within just two and a half months. The firm projects its offline channel to become a $12 million revenue stream in the next financial year.

Darwix AI raises $1.5 Mn in seed funding round

EntrackrEntrackr · 24d ago
Darwix AI raises $1.5 Mn in seed funding round
Medial

Darwix AI raises $1.5 Mn in seed funding round Darwix AI, an omnichannel generative AI platform for enterprise sales and service conversations, has raised $1.5 million in a seed funding round from Rebalance, IPV, JITO Incubation and Innovation Foundation, Growth Sense, and Growth91, along with participation from angel investors such as Ankit Nagori, Sanjay Suri, Amit Lakhotia, and Mekin Maheshwari. The fresh capital will be used for product development and market expansion, the company said in a press release. Co-founded in 2022 by Ajay Sethi, Hanit Awal, and Kushal Das, Darwix AI has built a first-of-its-kind, deeply integrated omnichannel generative AI stack that provides conversational intelligence, assistance, and automation for enterprise sales. Its all-in-one platform is designed to give organizations complete visibility into customer interactions and enhance each customer touchpoint. According to the company, its generative AI stack powers omnichannel interactions for large enterprises in banking, financial services, insurance, and retail sectors, with a presence across leading players in the United States, India, and the Middle East. Built on a proprietary multi-tenant large language model infrastructure with advanced software and hardware integrations, the solution is tailored to empower these industries. “Our goal is to offer a unified generative AI stack that not only understands but also elevates every customer interaction with actionable intelligence and automation. This fundraise gives us the fuel to double down on product innovation and expand our presence in the United States,” said Ajay Sethi, Co-founder of Darwix AI. The company’s Transform Plus platform delivers real-time conversational intelligence, agent assistance, and automation across voice, chat, email, and in-person channels through its multi-tenant infrastructure.

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