Acefour Accessories raises $7M in Pre-Series A round led by Sixth Sense Ventures
Acefour Accessories will use this funding for working capital requirements and product building.
, a D2C brand in the travel accessories space, has raised $7 million in a Pre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners.
Founded by Sudip Ghose, Acefour Accessories will use this funding for working capital requirements and product building.
According to the startup, the $3.5 billion Indian luggage market, which is highly fragmented, is ready for disruption and Acefour aims to launch its own brand Uppercase.
On the fundraise, Acefour founder Sudip Ghose said, “It reiterates that we are on the right path where we want to make travel a sustainable experience with products that save nature.”
Sudip has over two decades of experience in the travel gear industry and donned leadership roles at VIP Industries and Samsonite India. He was part of key brands such as Skybags, American Tourister, Lavie, and Caprese.
Nikhil Vora, Founder and CEO, Sixth Sense Ventures, said, “The Indian luggage industry has been dormant for too long, waiting to be disrupted. With all incumbents combined holding just around 30 percent share in the organised segment, the market is highly fragmented, presenting a huge opportunity for Acefour.”
Akash Bhanshali, Director, Enam Holdings, said, “The organised luggage industry is just 1/3rd of the total market. This itself presents a great opportunity to invest in this category, hence, we had led the seed round.”
Edited by Kanishk Singh