Get All Access for $5/mo

Eco-Conscious Lifestyle And Luggage Brand EUME Secures Undisclosed Amount The brand will use 50% of the new capital for bolstering its marketing efforts, 30% for its working capital, and 20% for team building and enhancing IT infrastructure

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

A sustainable and eco-conscious luggage brand EUME has raised undisclosed amount from Mumbai Angels, a premier platform for private investments along with other investors. The startup focuses on designing multi-purpose everyday accessories with useful innovation for the everyday commuter, jetsetter and family traveler with the core belief in 'Doing the Undone' in the luggage and accessories industry. The brand will use 50% of the new capital for bolstering its marketing efforts, 30% for its working capital, and 20% for team building and enhancing IT infrastructure, according to an official statement by the company.

"EUME focuses on building trustworthy relations, where you can rely on our brand without worrying about it. EUME's goal is to give customers the best quality products at affordable pricing. All our products are made in India, and the latest collections are made using 100% vegan leather. As a brand, we want to be aware of our community and their likes and dislikes and ensure our product speaks the same language as the situation around us," said Naina Parekh, co-founder of EUME

With patents issued in India and the USA, EUME has a PCT filed worldwide and has appeared on popular shows like Shark Tank India and Good Morning America. The brand has grown almost 50% as compared to last year and aims to achieve a growth of 25% M-o-M post the closure of the latest funding round. EUME currently clocks a monthly run-rate of INR 1.8 crore, claimed by the company in the statement.

"Sustainability in all aspects is the crux of the continued survival of our planet and humankind. Unfortunately, the fashion and accessories industry is one of the biggest contributors to global warming and climate change. EUME is on a quest to change this by creating eco-friendly, vegan bags that are functional and stylish. The brand has also been incredibly capital efficient. We are confident that our funding, combined with its immense potential, constant innovation, digital-first approach, eco-consciousness, and customer-centricity, will help EUME grow further," said Nandini Mansinghka, CEO of Mumbai Angels

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

Growing a Business

Why Business Owners Should Streamline Their Operations Now for Success in 2025

As the holiday season and year-end approach, business owners face heightened operational demands, from inventory management to spend control. By streamlining these processes and partnering with flexible suppliers, businesses can maintain efficiency, meet customer needs and focus on growth while navigating this busy period.

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.