Miraggio, one of India’s fast-growing handbag and fashion accessories brands, has raised Rs 55 crore (about $6.5 million) in a Series A funding round. This major investment supports the brand’s goal of becoming a top name in the premium handbag space across India.
Miraggio Secures New Funding
The funding round was led by RPSG Capital Ventures and Client Associates Alternate Fund, along with support from Prath Ventures. With this fresh capital, Miraggio plans to reach more customers, expand its product line, and focus on modern, affordable handbag designs inspired by global trends.
Miraggio has already processed over one million orders, proving strong demand for its designs. Over the next 18 months, the company aims to launch more than 500 new products. It will also explore new types of handbags and accessories to meet the growing needs of Indian women, especially in Tier 2 and Tier 3 cities.
This funding marks a pivotal moment for us as we accelerate our journey toward becoming an omnichannel fashion handbag and accessories brand.
Mohit Jain, Founder & CEO, Miraggio
Building Omnichannel Presence
With the new funding, Miraggio is investing in an omnichannel strategy that combines digital and physical retail. The company wants to offer a better shopping experience through both its online store and offline retail points, making its products more accessible across the country.
Miraggio is also working on building a stronger supply chain across Asia. By sourcing materials and products from multiple countries, the brand wants to improve quality and ensure faster delivery. This move supports its goal of growing faster while keeping operations smooth and reliable.
Founder and Investors React
Founder and CEO Mohit Jain shared that this funding marks a big moment in the company’s journey. He said the team is committed to creating better retail experiences and deeper customer relationships. Investors also praised Miraggio’s strong design and smart business execution, calling the brand a leader in India’s fashion-forward accessories market.
India’s handbag market is expected to grow by $2 billion between 2024 and 2029. With this strong backing, Miraggio is ready to tap into this growing demand and offer stylish, premium handbags that are both aspirational and affordable.
