Escape Plan, a travel products platform headquartered in Bengaluru has secured $25 million in a Series A funding led by Jungle Ventures, per an announcement.
The round also saw participation from Fireside Ventures; and strategic investor IndiGo Ventures, the corporate venture capital arm of IndiGo.
The funds will be used to strengthen the brand and expand its presence in India and select overseas markets. The company plans to grow its omni-channel reach across metro, tier I, and tier II cities, increase its physical retail network to more than 200 stores, and expand distribution at major travel hubs, it said in a media statement.
Established last year, Escape Plan focuses on the needs of the modern Indian traveller. It designs and curates luggage, accessories, and mobility products for different travel needs, and sells them through online marketplaces, direct-to-consumer channels, and a fast-growing retail network across India.
It last raised $5 million in July. The round then was led by Jungle Ventures, along with Fireside Ventures and several angel investors.
Among other travel startups in India that have raised capital recently, WanderOn secured Rs 54 crore in a Series A round earlier this month, while Elivaas raised about $10.4 million late last year. Meanwhile, established travel tech players such as ixigo have also attracted large strategic investments from global backers.
