US-based luggage brand Away has raised $20m in a series B round featuring Comcast Ventures, the venture capital subsidiary of cable and telecommunications company Comcast, TechCrunch has reported.
Venture capital fund Global Founders Capital led the round, which included VC firms Forerunner Ventures and Accel Partners.
Away produces luggage that uses high-quality materials like durable polycarbonite and incorporates technology such as a USB charger. It has sold nearly 100,000 suitcases since its 2016 launch and generated almost $20m in revenue.
The company’s products are currently only sold through its online platform but it plans to open between four and six brick-and-mortar retail stores to sell its goods. Further plans include an expansion of its product line and an extension into media with the launch of a branded publication.
The latest round brought the total raised by Away to $31m since 2015. Comcast Ventures previously took part in its $8.5m series A round in September 2016 backed by Global Founders Capital, angel investor Barry Sternlicht and seed investors Forerunner and Accel.
– Image courtesy of Away Travel