Indian fashion handbag and accessories label Miraggio has raised Rs 55 crore or nearly $6.5mn in a Series A funding round. The round was led by RPSG Capital Ventures and Client Associates Alternate Fund, with participation from Prath Ventures.
The capital infusion is expected to help the brand expand its product range, strengthen its supply chain across Asia, and widen its retail footprint—particularly in India’s Tier 2 and Tier 3 cities. Miraggio plans to introduce over 500 new products in the next 18 months and explore additional handbag and accessory categories.
Speaking on the funding announcement, Mohit Jain, Founder and CEO at Miraggio, said, “This funding marks a pivotal moment for us as we accelerate our journey toward becoming an omnichannel fashion handbag and accessories brand. With a sharper focus on delivering elevated retail experiences, expanding our product portfolio, and building deeper connections with customers across India, we’re excited to shape the next chapter of Miraggio's growth story.”
“Miraggio is rapidly emerging as a defining force in India's fashion accessories space. In a highly fragmented and dynamic market, Miraggio stands apart in its ability to offer exceptional value for money, seamlessly combining aspirational design, quality, and experience with premium affordable pricing, making it especially relevant to India’s new-age consumers,” said Abhishek Goenka, Managing Partner at RPSG Capital Ventures. “We’re excited to support their journey to becoming a leading destination for fashion-forward accessories in India,” he added.
Shivam Diwan, Executive Director at Client Associates Alternate Fund, echoed the sentiment, saying, “Miraggio has quickly captured attention with its fresh approach. Their commitment to innovation stands out, and it positions them well to make a big impact in the market." Diwan also noted that this investment is in line with their mission to support companies that are not just growing, but driving real change and offering something new to the market.
Piyush Goenka, Managing Partner at Prath Ventures, added, “Miraggio blends creative design with strong execution. We’re proud to support a homegrown brand setting new benchmarks for Indian fashion.”
Commenting on the investment, Prath Ventures’ Managing Partner Piyush Goenka highlighted Miraggio’s unique blend of design-focused innovation and strong execution. “We are proud to back a brand that is not only scaling rapidly but is also setting new benchmarks for what Indian fashion brands can achieve,” he said.
