Trunki has secured £3.92 million in funding.
Business Growth Fund has taken a minority stake in the children's travel brand and a seat on the board.
The £3.92m investment will "fund the development of new products, accelerate international sales and support development of the Trunki brand through above the line marketing".
Trunki is based in Bristol where it employs 30 employees, with a further 44 employed at the factory in Plymouth. It has seen success with the Trunki kids' suitcases.
The head office team is expected to grow by 25 per cent during the next twelve months.
Rob Law, Founder and CEO of Trunki (pictured), commented: "We’re delighted to have BGF as a partner to help rapidly grow our business and enable us to build Trunki into a truly global travel brand for children’s travel gear.
"The fundraising process attracted a high level of interest and offers from some major private equity investors. It was hugely rewarding to see Trunki - a company which I and my team have created - so highly regarded.
"BGF’s long-term view with no stipulations over exit and access to their talent network was instrumental in my final decision making process."
Paul Oldham, BGF’s Regional Director for the South West of England and South Wales, added: “Trunki has pioneered a new children’s travel product category and over the last seven years has very successfully developed its position as the UK market leader.
"Rob and his team have recognised that there is a real opportunity to grow the business further - by expanding its range of unique products and by exporting them to overseas markets. They have sought our help to accelerate this and we are delighted to be working with them as a partner and minority investor."
Want to receive up to the minute toy industry news straight to your inbox? Click here to sign up for the free ToyNews Daily Digest and Newsflash services. You can also follow ToyNews on Twitter and Facebook.