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Venture Capital News: Raden Announces $3.5M Seed Round

2016-03-29
NEW YORK, NY, Raden, a developer of Bluetooth-enabled luggage, has raised $3.5 million in seed funding.
Raden, the brand creating a better case for travel, announces the launch of its sleekly designed, app-connected travel cases, available for immediate purchase at Raden.com. Raden's meticulous product design and intuitive technology enhance the journey so that it is just as celebrated as the destination. Whether it is a tip on the best route to the airport or a push notification when one's case arrives at baggage claim, Raden gives travelers a much-needed peace of mind.

Raden additionally announces the raise of a $3.5 million seed round led by First Round Capital and Lerer Hippeau Ventures, with participation from Silas Chou, Pritzker Group, Kal Vepuri, Rachel Zoe, and others.

Raden's team brings experience from some of the best names in product design and development, including the designer behind Beats By Dre, and members from Quirky, Bonobos, and Ammunition. Rounding out Raden's founding team are operations executives from Fancy.com and the former founder and CTO of Mobee and Knozen. The team is based in New York and has a production team in Hong Kong.

'The $40 billion luggage industry is built on providing a basic travel product, with little innovation in design and technology,' said Josh Udashkin, Raden founder and CEO. 'We've spent nearly two years in stealth mode developing a case that successfully combines design, technology, and value in an effort to solve the headaches we all experience while traveling. We eliminate the worry about getting to the airport on time, the anxiety of being subject to overweight baggage fees, and the fear of your phone dying in transit. Raden solves all of these problems, and it does so with a beautiful sleek case. Raden adds magic to the journey so travelers will be at ease during the in-between moments.'

'What we saw in Raden was a vision for not only the brand but also the way we should all be traveling,' said Ben Lerer, Partner at Lerer Hippeau Ventures.

'Over the last two years, Josh and his team dug into modernizing a key piece of merchandise that has otherwise been the same for 40 years, and we believe the brand has the vision that people always craved and needed.'

'Raden is doing for traditional luggage what Apple did for CD players -- that is, making it obsolete with a combination of software and hardware that will fundamentally change the way people travel,' said Rob Hayes, Partner at First Round Capital. 'Josh and the team have created a product so beautiful and functional that I see it quickly becoming essential for anyone going anywhere.'
While Raden is currently only available for purchase through the Raden site, the brand plans to offer a variety of innovative retail experiences wherein consumers can interact with the brand, starting at launch with a retail experience in SoHo.

THE HARDWARE
Raden's carry and check cases are constructed out of light and durable Makrolon polycarbonate and weigh only 7.5lbs and 11.2lbs when empty - an industry groundbreaking light weight. Inside, Raden cases include an integrated 7,800 mAh battery that can charge a mobile phone up to four times with two charging ports accessible on the exterior of the case. To help ensure travelers never pay an overage fee again, an integrated scale handle allows for effortless weighing while packing.

THE APP
Raden cases pair with Raden's sleek companion app available on iOS, which informs users of their case's weight, current weather conditions, TSA wait times, traffic alerts, case location, and flight parameters. For location awareness, Raden cases leverage Bluetooth low energy (B.L.E.) to create a GPS mesh network. Customer service is supported through live chat within the app along with email and phone.

PRICING & SHIPPING
Raden's 22' carry case retails for $295. The 28' check case retails for $395. The two cases are also sold together as a set for $595. Raden ships directly to consumers in the US and Canada.

Raden cases are available in two finishes and seven colors: black, white, navy blue, hunter green, light purple, light pink, and light blue.

ABOUT RADEN
Raden is the case for better travel. It's everything you need to seamlessly get from point A to point B -- an end to end experience for better travel by pairing the world's best materials with technology. Created with the lightest and most durable materials on the market, Raden's embedded technology and sleek companion app add a much-needed utility to your travel experience. Travelers can weigh their case from home, track their case throughout their journey, charge their devices on the go, and get relevant information about their trip. For more information, please visit Raden.com.
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