Assembly, a New Delhi-based travel and lifestyle startup, has secured $2.1 million (approximately INR 17.4 crore) in an undisclosed funding round. The funding was spearheaded by Prath Ventures, with contributions from Anicut Capital, Blume Founders Fund, and several angel investors.
The startup plans to utilize the new funds to grow its team and product offerings, with an increased emphasis on marketing and branding efforts.
Established in 2019 by Aditya Khanna and Mohit Garg, Assembly provides mass-premium luggage, backpacks, and travel accessories designed specifically for the modern traveler.
“This year, we want to connect with a larger audience and expand our range of offerings,” he said.
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The startup also made an appearance on Shark Tank Season 3, showcasing their impressive track record of assisting over 200,000 travelers in the past three years. They aim to establish themselves as India’s premier and most considerate travel store within the next 2 to 5 years. Despite their ambitious vision, the founders were unable to secure any deals during their appearance on the show.
Prath Ventures, founded in May 2022 by Piyush Goenka and Harmanpreet Singh, backs early-stage consumer businesses and their supporting entities. With an objective to invest fresh capital in around 15 startups, Prath Ventures is dedicated to driving growth and innovation within the consumer sector.
According to Prath Ventures vice president Saptarishi Sen, “Assembly is well-positioned to capitalise on this developing trend thanks to its strong supply chain skills and attractive design. Our collaboration with them to create a cutting-edge competitor brand in the luggage industry excites us.”
This is the third investment made by Prath Ventures from its inaugural fund, which recently reached its second closing at INR 225 Cr. Previously, the fund had invested in the D2C F&B startup, Jimmy’s Cocktails.
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