Indian handbag and accessories brand Miraggio has raised ₹55 crore (approximately $6.5 million) in a Series A funding round led by RPSG Capital Ventures and Client Associates Alternate Fund, with additional participation from Prath Ventures.
The funds will be used to expand Miraggio’s product portfolio, strengthen supply chain operations across Asia, and build a robust omnichannel ecosystem. The brand plans to launch over 500 new products in the next 18 months and expand into new handbag and accessory categories.
Miraggio is also targeting growth in Tier 2 and Tier 3 markets, aiming to make premium handbags more accessible to modern Indian women. The company’s strategy includes offering aspirational designs at accessible price points, drawing on global fashion trends.
Founded in 2019 by Mohit Jain, Miraggio has fulfilled over 1 million orders to date. The company is positioning itself to fill the gap in India’s growing premium handbag market, which is projected to grow by USD 2 billion between 2024 and 2029.
“This funding marks a pivotal moment for us as we accelerate our journey toward becoming an omnichannel fashion handbag and accessories brand,” said Mohit Jain, Founder & CEO of Miraggio.
