Miraggio, one of India’s fastest-growing fashion handbag and accessories brands with over 1 million orders to date, has raised ₹55 crore (approximately $6.5 million) in a Series A funding round. The round was led by RPSG Capital Ventures and Client Associates Alternate Fund, with participation from Prath Ventures.
This strategic investment will power Miraggio’s next phase of growth, including expansion of its product portfolio, scaling retail operations, and strengthening its supply chain capabilities. A core objective is to solidify Miraggio’s position as an aspirational, design-forward brand offering global fashion aesthetics at premium-yet-accessible prices. With a sharp focus on Tier 2 and Tier 3 cities, the brand plans to establish a robust omnichannel presence to serve India’s increasingly fashion-conscious women.
Commenting on the funding, Mohit Jain, Founder & CEO of Miraggio, said, “This investment marks a major milestone for us as we evolve into a true omnichannel brand. We aim to elevate retail experiences, expand our offerings, and deepen customer connections across India.”
Abhishek Goenka, Managing Partner at RPSG Capital Ventures, added, “Miraggio is redefining fashion accessories in India. Their ability to blend aspirational design with accessible pricing is highly relevant for today’s consumers. We’re excited to support their journey.”
Shivam Diwan of Client Associates noted the brand’s innovation-first approach, while Piyush Goenka of Prath Ventures praised Miraggio’s execution and vision as setting new benchmarks in Indian fashion.
The company plans to launch over 500 new products across handbag and accessory categories over the next 18 months. It will also invest in enhancing its supply chain across Asia to support sourcing from multiple countries. India’s handbag market is projected to grow by $2 billion between 2024 and 2029, presenting a significant opportunity for premium brands like Miraggio.