SUMMARY
Eske raised $1.5 Mn in its pre-Series A funding round led by Mistry Ventures, in participation with existing investor Fluid Ventures
The D2C lifestyle brand said it plans to use the fresh funds to expand its product portfolio, open experience centres, and enter new markets
Founded in 2018 by Shivam Khanna, Mumbai-based Eske offers a range of handbags, briefcases, and accessories in the price range of INR 3,000 to INR 10,000
D2C lifestyle brand Eske has raised $1.5 Mn in its pre-Series A funding round led by Mistry Ventures. The round also saw participation from existing investor Fluid Ventures.
Eske said it plans to use the fresh funds to expand its product portfolio, open experience centres, enhance its technology platform, and enter new markets.
Founded in 2018 by Shivam Khanna, Mumbai-based Eske offers a range of handbags, briefcases, and accessories in the price range of INR 3,000 to INR 10,000.
Eske sells its products through its own website, ecommerce platforms such as Amazon and Myntra, and offline stores in cities like Delhi, and Mumbai.
Commenting on the fund raise, Eske founder and CEO Khanna said, “Leveraging our decades of manufacturing expertise producing for the world’s finest brands, we will unleash our manufacturing capabilities, combining it with technology, to build a globally recognized lifestyle brand from India.”
Earlier, the D2C startup raised seed funding from Fluid Ventures in April 2022.
Eske competes against the likes of Zouk and Scarters. Earlier this year, Zouk raised $3 Mn in a funding round led by Stellaris Venture Partners.
With rising penetration of internet and smartphone, India has the third-largest online shopping base in the world. This, along with the increase in disposable incomes, has led to the emergence of a number of D2C brands in the country over the last few years. This has also drawn investors’ attention.
Last month, D2C personal care brand Pilgrim bagged $20 Mn in a funding round led by Temasek’s Vertex Ventures Southeast Asia and India. Before that, mother and baby care D2C brand SuperBottoms raised $5 Mn from Lok Capital and Sharrp Ventures.
The burgeoning Indian D2C market is likely to reach a size of $100 Bn by 2025 and is expected to account for 75% or $300 Bn of the $400 Bn ecommerce market opportunity by 2030, making it the largest and fastest-growing segment within the ecommerce landscape, as per an Inc42 analysis.
