Eume, a luggage brand, secured Rs 15 crore in Pre-Series A funding. The round was spearheaded by Ashish Kacholia, who contributed 80 per cent of the total, with Kennis Ventures acting as the strategic advisor.
This strategic investment reflects strong confidence in Eume's vision to innovate as a homegrown brand, elevate Indian brands on the global stage, and become a major player alongside international competitors.
Commenting on the funding announcement, Naina Parekh, Founder of Eume, expressed, “Our vision for Eume goes beyond merely being a brand; we aim to be a household name synonymous with top-notch quality, flawless design, affordability, and style. The goal has always been to create a holistic travel ecosystem with our range of travel luggage, backpacks, and accessories, all crafted with a focus on excellence. This latest infusion of funding not only strengthens our market position but also demonstrates confidence in India's growing travel and lifestyle sector. With this support, we will continue innovating and expanding our offerings, setting new benchmarks in the travel luggage and lifestyle sector.”
Ace investor Ashish Kacholia commented on his company's backing of Eume, stating, “Our investment in Eume reflects our strong confidence in the company's value proposition of offering stylish, premium products at value prices for today’s discerning consumers. Eume's highly functional products have earned them a place on the shelves of major retailers, aligning with our strategy of backing promising challenger brands that demonstrate exceptional potential early in their life cycle. With a unique mother/son founding team, we believe in their ability to drive profitable growth and look forward to supporting their journey towards continued success.”
Looking ahead, Eume plans to target major metro areas, as well as Tier I and Tier II cities. The brand also aims to establish its first flagship store in 2024, marking a significant milestone in its expansion strategy.
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