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ICON Bags USD 1.2 Mn in Seed Funding to Revolutionize Travel Accessories Market

ICON Secures $1.2M in Seed Funding

Funding News

ICON Bags USD 1.2 Mn in Seed Funding to Revolutionize Travel Accessories Market

ICON, a leading direct-to-consumer luggage and travel accessories startup, has secured USD 1.2 million in seed funding. The funding round was led by DSG Consumer Partners, with participation from several angel investors. This investment will enable ICON to expand its product line, enhance its team, strengthen its distribution network, and innovate its product offerings.

Founded by Mohammad Patel, Poojan Shah, Fazal Lakhani, and Aakash Mehta, ICON focuses on the mass premium segment in the luggage and travel accessories category. The startup offers a range of products, including hard luggage, backpacks, and handbags, designed to cater to the evolving needs of modern travelers.

Mohammad Patel, CEO of ICON, commented, “India is witnessing a surge in travel, driven by factors such as increasing disposable income, a rise in business and leisure trips, and a growing consumer preference for lifestyle products. At ICON, we aim to provide Indian consumers with high-quality, stylish, and functional travel accessories at an affordable price point.”

The founders of ICON have a track record of success, having previously founded health food startup MyFitness, which was acquired by Mensa Brands in 2022. Leveraging their entrepreneurial experience and industry insights, the founders identified significant opportunities in the luggage and travel accessories market, leading to the creation of ICON.

Hariharan Premkumar, MD and Head of India at DSG Consumer Partners, expressed his excitement about partnering with ICON, stating, “We have been following Mohammad and the team since their MyFitness days and have been impressed by their ability to build a category-defining brand. With the travel industry poised for growth, we believe that ICON is well-positioned to capitalize on this trend and become a leading player in the luggage and travel accessories market.”

ICON’s products are known for their durability, functionality, and style. Key features include innovative trolley handles, smart bags with power bank slots and Bluetooth-enabled trackers, and the use of premium materials such as unbreakable hard shells and super silent 360 wheels. These features cater to the evolving needs of modern travelers, who seek both style and functionality in their travel accessories.

The travel industry in India is expected to grow at a healthy rate in the coming years, driving demand for high-quality travel accessories. ICON aims to capitalize on this growth by offering innovative products that enhance the travel experience. With its focus on quality, design, and functionality, ICON is poised to redefine the travel accessories market in India and beyond.

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