Mohit Jain, Founder & CEO of Miraggio
Fashion handbag and accessories brand Miraggio has raised ₹55 crore in its series A round led by RPSG Capital Ventures and Client Associates Alternate Fund, with participation from Prath Ventures.
This funding will fuel the next phase of the brand’s growth, which will focus on product portfolio, retail expansion, and building supply chain strength.
With a focus on Tier 2 and 3 markets, Miraggio will focus on creating an omnichannel ecosystem to make premium handbags more accessible to modern Indian women. The funding will also allow the company to build a stronger supply chain operation across Asia with sourcing from multiple countries.
Mohit Jain, Founder & CEO of Miraggio told businessline, “We’ll be launching more backpacks, clutches, SLGs and other fashion accessory categories. We will, of course, be investing in building our own team, a stronger team, and a leadership team as well. And then largely the last bit is enhancing consumer experience with tech integration. You will be seeing a lot of augmented reality products buying on our Miraggio website as well as an automated chatbot who talks to you like a stylist.”
Abhishek Goenka, Managing Partner, RPSG Capital Ventures, commented, “ 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.”
The brand is set to introduce more than 500 new products over the next 18 months and expand into additional handbag and accessory categories. As previously reported by businessline, the brand launches new collections every month to spur repeating purchases.
Miraggio closed with ₹110 crore in gross revenue which was a 132 per cent growth in FY25. “In FY26, we will be aiming for 90- 100 per cent growth again,” Jain added.
(Report filed by bl intern Nethra Sailesh)
Published on May 20, 2025