Comcast Ventures-backed smart luggage brand Away has reportedly secured $30m to $40m in bridge financing as it faces a downturn in business due to the coronavirus.
Away, the US-based luggage brand that counts mass media group Comcast as an investor, has raised up to $40m in convertible note financing from existing backers, Axios has reported.
The company secured between $30m and $40m in bridge funding through the round, with investment management firms Baillie Gifford and Wellington Management identified as participants. It took the cash at a lower ‘cap’ than the $1.45bn valuation achieved in its last round.
Founded in 2015, Away produces a range of smart…
