- Investment to drive brand development and retail expansion throughout FY24-25
- The company aims to capture a substantial share of the ₹10,000 crore opportunity in the backpack market
PUNE: uppercase, the innovative, sustainable luggage brand has raised $9 Million in its Series B round led by Accel, a global venture capital firm. The funding will support business expansion, aiming to increase its customer base across India. The Mumbai-based company, currently selling its travel gear online and through 1800 multi-brand stores across India, aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years.
uppercase was launched with a vision to revitalize the luggage market through innovative, consumer-centric designs that are visually striking. It offers innovative, customer-centric designs that break away from typical, monotonous styles. The brand is committed to sustainability, emphasizing eco-friendly practices. Additionally, uppercase’s focus on affordability ensures that high-quality, fashionable travel gear is accessible to a broader audience.
With the USD 9M series B round led by Accel, uppercase’s total funding now reaches Rs. 150 crores since its inception three years back.
“We are excited to have Accel join us as we revolutionize the sustainable travel gear industry. Their investment reflects trust in our eco-friendly approach and 100% made-in-India business model. This partnership will help us to build our brand and distribution by expanding our exclusive retail channels. With Accel’s extensive international experience, we look forward to increasing our global footprint soon. We will continue to drive growth, innovation and impact the way the world travels and we will do it from India,” expressed Sudip Ghose, Founder and Managing Director of uppercase.
uppercase which designs and manufactures 100% of their products in India, recently achieved a significant milestone by winning the prestigious Red Dot Award for their product, Bullet— becoming the first Indian luggage brand in 69 years to receive this honor. It is a smart durable eco-friendly bag which is made out of recycled plastic, ideal for environmentally conscious customers. This accolade highlights uppercase’s dedication to innovation and excellence in design.
Barath Shankar Subramanian, Partner at Accel said, “uppercase is carving out a unique space in the market with its deeply rooted Indian identity and unwavering commitment to sustainability. With over two decades of industry expertise, Sudip drives the brand’s cutting edge approach to eco-friendly travel gear. We are excited to support uppercase as they deliver a seamless omnichannel experience, capitalizing on emerging market opportunities to set new standards for growth and responsible business practices.”
As part of its strategy, uppercase’s plans to further expand its offline presence in leading metros solidifying its market position. The brand’s steadfast dedication to sustainability has yielded significant environmental impact, minimizing waste and promoting eco-friendly practices through its production and supply chains.
uppercase’s journey has been strongly backed by existing investors, Sixth Sense Ventures and Enam’s Akash Bansali. With their continued support and the latest round of investments, uppercase is set to accelerate its growth plans, expanding its reach and bringing environmentally friendly products to a broader consumer base.
