CosmicTaco

Accel Invests $9 Million in Uppercase, Doubling Valuation to $60 Million

CosmicTaco · 2024-08-21T11:29:12.114500+05:30

- Venture capital firm Accel has invested $9 million in Uppercase, nearly doubling the luggage maker’s valuation to $60 million. - The investment will fuel the brand’s expansion through new retail stores in India, Europe, and the Middle East by next year, according to cofounder Sudip Ghose. - Uppercase plans to open 10 exclusive retail stores in major Indian cities by next month and expand to 50 outlets by March 2025. - About 60% of Uppercase’s sales come from offline channels, with the company aiming to double its revenue to Rs 150 crore by the end of this fiscal year. - Uppercase is set to open its own manufacturing facility in Nashik by December, moving away from contract manufacturers. Source: [Economic Times]()

Venture capital firm Accel has invested $9 million in Uppercase, nearly doubling the luggage maker’s valuation to $60 million.
The investment will fuel the brand’s expansion through new retail stores in India, Europe, and the Middle East by next year, according to cofounder Sudip Ghose.
Uppercase plans to open 10 exclusive retail stores in major Indian cities by next month and expand to 50 outlets by March 2025.
About 60% of Uppercase’s sales come from offline channels, with the company aiming to double its revenue to Rs 150 crore by the end of this fiscal year.
Uppercase is set to open its own manufacturing facility in Nashik by December, moving away from contract manufacturers.

Source: Economic Times