Travel Accessories Brand EUME Secures Rs 25 Crore in Series A Funding

Travel accessories brand EUME has successfully raised Rs 25 crore ($3 million) in its Series A equity round, which was led by investor Ashish Kacholia. Notable existing backers, including Pradeep Rathod from Cello Group and Prithviraj Kothari of Arvog Financial, also contributed to this funding round.

Previous Funding Rounds

In June of the previous year, the Mumbai-based startup had successfully raised Rs 15 crore ($1.7 million) in a funding round also led by Ashish Kacholia.

Utilisation of Funds

The funds acquired will be strategically utilized to scale physical retail operations, strengthen internal processes, invest in marketing initiatives, and support working capital requirements.

About EUME

Founded by Naina Parekh and Pranay Parekh, EUME initially positioned itself as a design-forward luggage brand and has garnered recognition through its associations with prominent events such as the Tata Mumbai Marathon and SulaFest.

Expansion Plans

EUME intends to open three flagship stores in the next 45 days, located in Bengaluru (Mall of Asia), Mumbai (Oberoi Sky City), and Hyderabad (Sarath City). This move is part of the company’s strategy to enhance its offline presence and target metro markets.

Premium Positioning

The brand aims to establish itself as a premium luggage player by combining retail expansion with innovative product development. Additionally, EUME plans to diversify its product range across various travel categories while focusing on premium-priced offerings. The brand also continues to expand its presence in both B2C and B2B markets, which includes partnerships for corporate gifting.