Lead Angels | Eume

Commitment Amount is in multiples of ₹100.00 ₹100.00 (Unit value of investment scheme)

Eume is a pure play consumer brand, whose products include backpacks, vegan leather handbags, office and travel accessories. They launched their Patented Massager Backpacks in 2018 and are now looking to expand in the travel luggage space.

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Description

Problem
 
Heavy backpacks have been an age-old problem across all age groups. Carrying more than 10-15% of your weight on your backpack is not allowed in many countries, but this law is never really enforced upon, or taken seriously. Backpacks are used for almost all purposes, including but not limited to, commuting, hiking, biking, traveling for personal or professional work, schools, colleges, and sporting reasons.
 
Solution
 
Eume‘s three different TSA compatible backpacks come with a built-in massager that includes two points to massage the shoulders and back, with adjustable straps to let users move the massage points to where they feel best. Eume’s backpacks are also designed with a flexible back torso to hug the back of the wearer, helping to maintain a straight posture and alleviate weight distribution when carrying heavy loads. A front strap also helps keep the bag in place when the massager is activated. All of the bags also come with a rain cover, reflectors to make the wearer visible at nighttime, and anti theft features that include hidden pockets for valuables and covers that can easily be slipped on the bag’s zippers.
 
Market Opportunity

In 2022, the bags and luggage market was valued at approximately 152 billion U.S. dollars worldwide and was forecast to be worth 200 billion dollars in 2026. The global backpack market was estimated to be worth around 15.9 billion U.S. dollars in 2022. The market was forecast to grow over the following years, almost doubling in value by 2030.

Following are a few highlights of Eume:
  • FY 23 Revenue: INR 14.4Cr, FY 24 YTD Revenue: INR 13Cr
  • Patented Massager Backpacks: Patents secured in India and USA
  • Strategic partnerships with 3 IPL teams – Mumbai Indians, Delhi Capitals, and Kolkata Knight Riders
  • Notable investors onboard such as Mr. Motilal Oswal (Motilal Oswal Financial Services), Mr. Pradeep Rathod (Cello Group), Mr. Sumeet Kabra (RR Kabel), and other prominent investors.
About the Founders
 

Mrs. Naina Parekh – Co- Founder

 

• BA with more than 20 years experience in the industry; brain behind visualizing and conceptualizing ‘EUME’ Anti-Stress Massager Backpacks
• Quest for learning – Currently pursuing “Owners/ President Management” course at Harvard Business School
• Looks after product innovation, designing, branding, and marketing at Avon Group
• Exec. MBA (Owners and Presidents Management) from Harvard Business School and also a Certificate in Business in Fashion from Istituto Marangoni, Milan.

Mr. Pranay Parekh – Co- Founder

• B. Sc. In Industrial Engineering from Purdue University, USA, and A Minor in Entrepreneurship and Innovation
• Worked as Business Analyst in Taro Pharmaceuticals to CEO, Mr. Uday Baldota (Former CFO of Sun Pharma)
• A keen problem solver, Pranay collects feedback from Backpacks users to understand their experience helping the Company to improvise the product
• Focused on building worldwide momentum for product sales across geographies

Additional information

Declaration

As per SEBI regulations, a member of the fund has to make a commitment of INR 25 lakhs to be invested through the Lead Angels Fund over a five-year period and also meet certain net worth criteria.

Investment Scheme

Lead Angels Fund Eume I

Minimum Investment Amount

2.5 Lakhs

Transaction Fee

2% of Investment Amount

Investment Documents

  1. Eume Pitch Deck – Link
  2. Eume Financials – Link
  3. Eume Pitch Video – Link
  4. Eume Executive Summary – Link
  5. Eume All Documents – Link

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