Luggage maker Eume Lifestyle Pvt Ltd on Wednesday said it has secured an undisclosed capital in a seed round from Mumbai Angels, JITO Angel Network and Lead Angels.
The startup plans to deploy the fresh proceeds for marketing, hiring and development of its tech stack.
“We have raised this round after investing more than Rs 10 crore in Eume as a family over the past 3 years. We believe in sustainable growth, and the latest infusion of capital will help us achieve the same.” said Naina Parekh, co-founder, Eume.
Founded in 2021 by Pranay Parekh and Naina Parekh, the Mumbai-based startup designs eco-friendly and sustainable luggage and accessories.
The company claims to have clocked a monthly run rate of Rs 1.8 crore and have grown almost 50% as compared to last year. It aims to achieve a growth of 25% month-on-month (MoM) post the closure of the latest funding round.
“Our funding, combined with its potential, innovation, digital-first approach, eco-consciousness, and customer-centricity, will help Eume grow,” said Nandini Mansinghka, chief executive officer, Mumbai Angels.
Mumbai Angels Network, established in 2006, is a platform focused on new venture investing. The firm currently has $130 million worth of assets under management (AUM) and a diverse portfolio across sectors like technology, consumer, electric vehicles (EV), agritech, fintech, and edtech, among others.
Last week, the platform led the Rs 2.2 crore seed funding round of baby focussed brand A Toddler Thing. In October last year, the firm was a part of the $5 million Series A funding round of the digital documentation platform Leegality.