Luggage startup Away just closed an $8.5 million Series A round led by Global Founders Capital, bringing the company’s total funding to $11 million. This time Starwood Hotels founder Barry Sternlicht joins the roster of investors.
He’s in good company. The first round of investors included people such as Jay Z, Andy Dunn of Bonobos, and Brian Lee of The Honest Company.
I recently wrote about how the founders of Away used their experiences from other direct-to-consumer startups to help them launch this business. Their suitcases cost between $225 and $295, which is cheaper than other brands of similar quality. They are on track to sell more than 50,000 suitcases this year.
It’s been an exciting year for the $32 billion global luggage industry. Samsonite recently acquired Tumi for $1.8 billion.
[Image via Away]ES