Uppercase secures ₹20cr from Accel India and Volrado Venture Partners
Business
Luggage brand Uppercase just scored a ₹20 crore boost from investors Accel India and Volrado Venture Partners after a 20-month pause.
The company, now valued at about ₹534 crore, plans to use the funds to ramp up expansion and roll out new growth strategies.
Uppercase FY25 revenue ₹83cr loss ₹35cr
Founded by Sudip Ghose, Uday Sodhi, and Arnob Mondal, Uppercase stands out for its sustainable bags.
After this round, Volrado holds the biggest external stake at 17.68%, with Accel close behind at 16.23%. Cricketer Jasprit Bumrah is also on board as both investor (0.42% stake) and brand ambassador.
In FY25, revenue jumped 34% to ₹83 crore, but losses rose too, hitting ₹35 crore.