Travel And Lifestyle Startup Assembly Bags $2.1 Mn From Prath Ventures, Others

New Delhi-based travel and lifestyle startup Assembly has raised $2.1 Mn (around INR 17.4 Cr) in an undisclosed funding round led by Prath Ventures, with participation from Anicut Capital, Blume Founders Fund and a host of angel investors.

The startup will use the fresh funds to expand its team and product range while increasing focus on marketing and branding initiatives.

Founded in 2019 by Aditya Khanna and Mohit Garg, Assembly offers mass-premium luggage, backpacks and travel accessories tailored for the contemporary traveller.

“Our focus this year is on expanding our product offerings and reaching a wider audience of travellers,” said Garg.

Assembly also appeared in Shark Tank Season 3 where they claimed that in the last three years, they helped more than 2 lakh travellers with their products. They also have a vision to become India’s leading and thoughtful travel store in the next 2 to 5 years. However, the founders couldn’t close any deal.

Prath Ventures, established in May 2022 by Piyush Goenka and Harmanpreet Singh, supports early-stage consumer businesses and their enablers. With a focus on deploying fresh capital into approximately 15 startups, Prath Ventures aims to fuel growth and innovation in the consumer sector.

Saptarishi Sen, vice president at Prath Ventures, said, ” We believe Assembly, with its robust supply chain capabilities and design aesthetics, is primed to capture this evolving trend. We are excited to partner with them in shaping a new-age challenger brand in the luggage space.”

This marks the third investment of Prath Ventures from its debut fund, which made its second close at INR 225 Cr last month. Earlier, it had invested in D2C F&B startup Jimmy’s Cocktails.

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