Mohit Jain, founder and CEO or Miaggio
The Misaggio Fashion Bags and Accessories has raised ₹ 55 million rupees in its round A Series A directed by RPSG Capital Ventures and Client Associates Alternate Fund, with the participation of Prath Ventures.
This financing will feed the next phase of brand growth, which will focus on the product portfolio, retail expansion and the construction of the supply chain force.
With an approach to level 2 and 3 markets, Miraggio will focus on creating an omnicanal ecosystem to make premium bags more accessible to modern Indian women. The financing will also allow the company to build a stronger operation of the Asia supply chain with multi -countries supply.
Mohit Jain, founder and CEO or Miaggio said Business line“We will launch more backpacks, clutch, SLG and other categories of fashion accessories. Of course, we will invest in the construction of our own team, a stronger team and a leadership team too. See many augmented reality products that buy on our Miaggio website, as well as an automated chatbot that speaks with you as a stylist.”
Abhishek Goenka, managing partner, RPSG Capital Ventures, commented: “In a highly fragmented and dynamic market, Miaggio distinguishes itself in its ability to offer exceptional value for money, combining without problems the aspirational design, quality and experience with premium affordable prices, which makes it especially relevant to new age consumers of India.”
The brand is scheduled to introduce more than 500 new products in the next 18 months and will expand to additional categories of bags and accessories. As previously reported by Businessline, the brand launches new collections every month to stimulate repeated purchases.
Miaggio closed with ₹ 110 million rupees in gross income, which was a growth of 132 percent in fiscal year 2015. “In the fiscal year26, we will aim at a growth of 90-100 percent again,” Jain added.
(Report presented by the Bl Nethra Sailesh intern)
Posted on May 20, 2025