Miraggio raises $6.5 Mn led by RPSG Capital

Delhi-based fashion handbag and accessories brand Miraggio has raised $6.5 million (Rs 55 crore) in a funding round led by RPSG Capital Ventures and Client Associates Alternate Fund. Prath Ventures also participated in the round.

Earlier, Miraggio had raised $1.2 million in 2023 and has now secured a total of $7.7 million in funding.

The proceeds will be used for retail expansion, brand development, technology upgrades, and team growth. 

The company plans to open 15 to 20 offline stores over the next two years and launch more than 500 new products within 18 months. These include laptop bags, backpacks, mini bags, clutches, and small leather goods.

Founded in 2019 by Mohit Jain, Miraggio designs and sells handbags and accessories aimed at women consumers in India. It offers a range of products across categories such as tote bags, shoulder bags, and crossbody bags, primarily through online platforms and its own website. 

The company claims to have fulfilled over one million orders to date. About 25% of its sales come from its own website, with the rest from online marketplaces.

The brand targets women aged 18 to 35 across tier I, II, and III cities.