Nasher Miles and Mayhem Studios Raise Funding The Indian startups listed below have disclosed investment rounds.
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Nasher Miles Secures USD 4 Mn in Bridge Round
D2C luggage brand Nasher Miles announced that it has raised USD 4 million in its bridge round to Series A from Singularity Early Opportunities Fund, Narendra Rathi (SoftBank Vision Fund), and Sulabh Arya (Goldman Sachs Growth Equity), amongst others, at a post-money valuation of USD 30 million.
The capital will drive Nasher Miles' omnichannel expansion, aiming to increase its offline presence to 1,000 multi-brand outlets across India by year-end and open 3-5 exclusive stores this financial year.
Additionally, Nasher Miles plans to strengthen its quick commerce presence in select cities and increase its production capacity in India, targeting 70–75% domestic manufacturing by December 2024.
Founded in 2017 by Shruti Kedia Daga, Lokesh Daga, and Abhishek Daga, Nasher Miles offers a diverse range of travel bags and luggage, including corporate backpacks, outdoor travel bags, luggage sets, and various accessories like neck pillows and rain covers.
The brand claims to have appointed over 20 distributors and established a presence in 150 stores within just two and a half months of launching. The firm projects its offline channel to become a USD 12 million revenue stream in the next financial year.
Mayhem Studios Secures Investment from Lumikai
Mayhem Studios, a Bengaluru-based developer specialising in AAA mobile games, has secured a strategic investment from Lumikai, a venture fund dedicated to interactive media and gaming.
This new capital injection will enable Mayhem Studios to expand its operations, accelerate game development, and bolster its team of skilled developers while enhancing its technological infrastructure.
The company previously raised USD 20 million in funding from notable investors including Peak XV Partners, Steadview Capital, Truecaller, and Hashed Emergent.
Ojas Vipat, CEO, Mayhem Studios, said, "Lumikai's investment is a significant endorsement of what Mayhem Studios is building. Their extensive industry knowledge and expertise will be invaluable as we strive to elevate India's gaming industry on the global stage. Underworld Gang Wars is just the beginning of our ambitious vision to create world-class games that resonate with players worldwide. We are committed to nurturing Indian gaming talent and showcasing the country's creative prowess."
Founded in 2022, Mayhem Studios develops AAA mobile games for domestic and global markets. AAA games are typically big-budget titles known for their high production value, detailed storylines, and complex gameplay.
Mayhem Studios is currently building its flagship title, Underworld Gang Wars (UGW), a AAA battle royale game with a distinctly Indian flavor. The platform claims that UGW deeply integrates Indian culture and aesthetics into its gameplay. The game features iconic Indian locations, distinctive characters, and culturally relevant elements.
