Nasher Miles’ Shark Tank India Success: 3 Crore Investment, 1% Royalty Deal

Nasher Miles is an online brand that sells travel-related products such as backpacks, luggage, and accessories. Their product catalog includes a variety of items like corporate backpacks, outdoor travel bags, luggage sets, laptop roller cases, and other accessories like luggage covers, neck pillows, masks, and backpack rain covers. These products come in different customized prints and color options. They focus on innovative design, quality, and providing value to customers. Key features include free shipping, hassle-free returns, assured quality, and customer-centric service. Nasher Miles operates primarily in the business-to-consumer (B2C) space, targeting retail, travel, and hospitality technology market segments.

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The founders of the vibrant luggage brand Nasher Miles, Abhishek, Lokesh, and Shruti, pitched their business on Shark Tank India season 3, seeking 3 crore rupees for 0.75% equity at a 400 crore rupee valuation. They explained how their brand provides unique and functional luggage options, after starting as an online retailer and then launching their own private label. The Sharks were initially surprised by the high valuation, but after reviewing Nasher Miles and a competitor brand, they ended up making multiple investment offers, which the founders ultimately accepted in an all five-Shark deal.

Nasher Miles was able to secure an investment deal worth 3 crore Indian Rupees (INR) in exchange for 1.5% equity in his company. The deal also includes a 1% royalty on the company’s revenue until the 3 crore INR investment is recouped. The overall valuation of Nasher Miles’ company was 200 crore INR. The investment came from Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh, and Ritesh Agarwal, who are all prominent investors or business people.

Nasher Miles has raised a total of $1.05 million in funding. This funding was raised over 3 separate funding rounds. The first funding round was on June 2, 2016. The latest funding round was an Angel round on February 28, 2024, where the company raised $362,000. 5 investors participated in the latest funding round, which was led by Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh, and Ritesh Agarwal.

The investors in Nasher Miles are Mfour Advisory as the institutional investors, and Ritesh Agarwal along with 10 other individuals as the angel investors.

As of April 24th, Nasher Miles had 32 employees. The total employee count at Nasher Miles is 28.9% lower than it was in April 2023.

Nasher Miles is a company that has a total of 24 competitors in its industry or market. Among these 24 competitors, Nasher Miles ranks 6th in terms of some metric, such as size, revenue, or market share. Out of all 24 competitors, 9 of them have received funding or investment. In total, Nasher Miles and its 23 other competitors have raised over $46.4 million in funding across 22 different funding rounds, with the involvement of 191 investors.

• Mokobara: It is ranked 1st and has raised $24.1M in funding across 5 rounds, with 50 investors. 3
• uppercase: It is ranked 2nd and has raised $8.5M in funding across 2 rounds, with 19 investors. 3
• Assembly: It is ranked 3rd and has raised $2.38M in funding across 4 rounds, with 23 investors.

The founders of Nasher Miles hold 24.90% of the company’s shares, which are worth approximately INR 2.48 crore. Other people, who are not the founders, own the majority of Nasher Miles’ shares, accounting for 63.46% of the total shares. In addition to the founders, there is also an enterprise entity that holds 11.63% of the company’s shares.

Shark Tank India has become a game-changer for the Indian startup ecosystem, offering a unique opportunity for entrepreneurs to receive financial backing and strategic advice from some of the country’s most successful business leaders.