Zouk, a D2C bags and luggage brand, has raised $10 million in its Series B funding round led by Aavishkaar Capital.
The funding round also saw participation from existing investors; Stellaris Venture Partners, Titan Capital, Sharrp Ventures and the JJ Family. Spark Capital acted as the exclusive advisor for this fundraise.
This brings the company’s total investment to $14.5 million. This is also Aavishkaar Capital’s, Impact Fund and part of the Aavishkaar Group’s eighth investment from its $150 million AIF6 fund, which has invested in sectors such as financial inclusion, sustainable agriculture, climate, healthcare, and consumer.
Zouk plans to use the fresh capital to expand its network of exclusive brand outlets, aiming for a total of 75 stores. The firm also plans to enhance its marketing efforts and supply chain while investing in talent across various verticals.
“This fundraise enables us to scale up our online and offline channels, with a strong consumer love and product market fit we have already established,” said Pradeep Krishnakumar, Co-founder, Zouk.
“Our new launches in luggage are seeing phenomenal love from women customers, who are finally happy to carry luggage that is made for them. Our offline stores are seeing good traction and more customers are looking to touch and feel Zouk products before buying. This capital will also enable us to expand our teams and build a large consumer brand from India for the world in the coming years,” said Zouk Co-Founder Disha Singh.
“Their commitment to community empowerment through artisan partnerships is bridging the gap between Indian handicraft and modern designs and in the process impacting 1000+ craftsmen with consistent and improved income. With plans to expand its product portfolio and exclusive brand outlets, we believe Zouk is well-positioned to capture a significant share of the rapidly growing bags and accessories market in India,” said Divya Gupta, Investment Director, Aavishkaar Capital.
Founded in 2015 by Disha Singh and Pradeep Krishnakumar, Zouk specializes in handmade products, including laptop bags, tote handbags, sling bags, and wallets, all made from 100% vegan leather sourced in India. With over 700,000 customers served, the startup is also venturing into the luggage segment with new backpacks and trolley bags.
