Uppercase Raises INR 20 Cr from Accel India, Volrado Venture Partners
The proceeds will be used to support its expansion and overall growth.
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D2C luggage brand Uppercase has raised INR 20 crore in a fresh funding round from existing investors Accel India and Volrado Venture Partners.
The Mumbai-based company secured the capital after a gap of nearly 20 months, according to regulatory filings.
The board of Uppercase approved a special resolution to allot 80,514 shares at an issue price of INR 2,484 per share to raise the funds. Both Accel India and Volrado Venture Partners contributed INR 10 crore each in the round.
The proceeds will be used to support its expansion and overall growth.
Uppercase, operated by Acefour Accessories, was founded by Sudip Ghose along with Uday Sodhi and Arnob Mondal. It offers backpacks, suitcases, and other travel gear, with a focus on sustainability, durability, and functional design.
Following the latest funding, Volrado Venture Partners remains the largest external shareholder with a 17.68% stake, while Accel India holds 16.23%. The co-founders together own 29.04% of the company.
Indian cricketer Jasprit Bumrah, who invested in the brand in April last year, holds a 0.42% stake and is also associated with Uppercase as a brand ambassador.
Uppercase operates in a competitive market alongside brands such as Escape Plan and Mokobara. It also faces competition from Assembly, Nasher Miles, and EUME, as demand for travel and lifestyle products continues to grow.
D2C luggage brand Uppercase has raised INR 20 crore in a fresh funding round from existing investors Accel India and Volrado Venture Partners.
The Mumbai-based company secured the capital after a gap of nearly 20 months, according to regulatory filings.
The board of Uppercase approved a special resolution to allot 80,514 shares at an issue price of INR 2,484 per share to raise the funds. Both Accel India and Volrado Venture Partners contributed INR 10 crore each in the round.
The proceeds will be used to support its expansion and overall growth.
Uppercase, operated by Acefour Accessories, was founded by Sudip Ghose along with Uday Sodhi and Arnob Mondal. It offers backpacks, suitcases, and other travel gear, with a focus on sustainability, durability, and functional design.
Following the latest funding, Volrado Venture Partners remains the largest external shareholder with a 17.68% stake, while Accel India holds 16.23%. The co-founders together own 29.04% of the company.
Indian cricketer Jasprit Bumrah, who invested in the brand in April last year, holds a 0.42% stake and is also associated with Uppercase as a brand ambassador.
Uppercase operates in a competitive market alongside brands such as Escape Plan and Mokobara. It also faces competition from Assembly, Nasher Miles, and EUME, as demand for travel and lifestyle products continues to grow.
