Sixth Sense Ventures backed Acefour Accessories, raised $7M

Acefour Accessories

A D2C brand in the travel accessories space, Acefour Accessories has raised $7 million in a Pre-Series A funding round. The funding round was led by Sixth Sense Ventures along with Volrado Venture Partners.

Acefour Accessories was founded by Sudip Ghose. The company is planning to utilize the fresh capital funding in the following ways:

For working capital requirements, and
Product building.

As per the company, the total valuation of the startup is about $3.5 billion in the Indian luggage market, which is highly fragmented and ready for disruption. In addition to this, the company is planning to launch its own brand by the name of Uppercase.

Sudip, the founder of the company obtains 2 years of traveling gear industry experience and has donned leadership roles at VIP Industries and Samsonite India. He has been a part of various famous brands including Skybags, American Tourister, Lavie, and Caprese.

EXECUTIVE OPINION:

Acefour founder Sudip Ghose mentioned, “It reiterates that we are on the right path where we want to make travel a sustainable experience with products that save nature.”

Nikhil Vora, Founder, and CEO, of Sixth Sense Ventures, said, “The Indian luggage industry has been dormant for too long, waiting to be disrupted. With all incumbents combined holding just around 30 percent share in the organized segment, the market is highly fragmented, presenting a huge opportunity for Acefour.”

Akash Bhanshali, Director, Enam Holdings, said, “The organized luggage industry is just 1/3rd of the total market. This presents a great opportunity to invest in this category, hence, we have led the seed round.”

Tags : Acefour Accessories, StartupsDekho

Startups

Sixth Sense Ventures backed Acefour Accessories, raised $7M

Tags : Acefour Accessories, StartupsDekho

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