Acefour Accessories raises USD 7 mln

Travel accessories startup Acefour Accessories has raised USD 7 million (about Rs 52 crore) in a funding round led by Sixth Sense Ventures and Volrado Venture Partners.

Acefour is one of the first D2C brands in the country to raise USD 7 million in the pre-revenue phase, the company said on Wednesday.

Founded by luggage industry veteran Sudip Ghose, the company plans to deploy the investment towards working capital, brand and product building.

''We are glad to have Sixth Sense on board in our journey towards a sustainable travel accessories segment. The fact that Nikhil (Founder and CEO of Sixth Sense Ventures) is known for choosing winners boosts our confidence. It reiterates that we are on the right path where we want to make travel a sustainable experience with products that save nature,'' Ghose said.

Acefour plans to disrupt the USD 3.5 billion luggage market which is highly fragmented, wherein the largest player holds 7 per cent share, the statement said.