Total amount raised
$722.5 Thousands
Latest funding date
Location
Rare Planet has successfully raised funds through an Angel round, attracting a total of eight investors. The company focuses on selling handcrafted and handpainted products, particularly terracotta items, which are made by local artisans.
Namita Thapar, one of the investors, partially exited her investment with a 3.5x return in early 2024. Keep reading to explore the intricacies of Rare Planet's fundraising journey and the investors backing this unique platform.
What Is Rare Planet?
Rare Planet, founded in 2015 by Ranodeep Saha and Vijay Kumar TR, is a retail startup based in Kolkata, West Bengal, India. The company specializes in handcrafted and handpainted terracotta products, offering a variety of items such as mugs, copper bottles, and ceramic bowls.
With a team of 51-100 employees, Rare Planet aims to provide a platform for local artisans to showcase their creativity. The company has received angel funding and continues to grow in the handmade retail industry.
How Much Funding Has Rare Planet Raised?
- Angel Round
- Amount Raised: ₹6.5M
- Date: March 2022
- Lead Investors: Namita Thapar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expand its product offerings.
- Seed Round
- Amount Raised: ₹35M
- Date: October 2020
- Lead Investors: Uni-M Ventures, Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the product range, enter new markets, and expand the online business.
- Seed Round
- Amount Raised: $160K
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish and grow the business, develop products, and support artisans.
Total Amount Raised: $1.1M
Current Valuation: Not publicly disclosed
Key Investors
- Namita Thapar
- Details: Namita Thapar is the Executive Director of Emcure Pharmaceuticals, a leading Indian pharmaceutical company. She is also a prominent investor and entrepreneur, known for her role on the Indian version of the TV show "Shark Tank".
- Investment Focus Areas: Pharmaceuticals, healthcare, startups
- Notable Investments: Rare Planet
- Uni-M Ventures
- Details: Uni-M Ventures is a venture capital firm co-founded by Nav Bhaiya. The firm focuses on investing in innovative startups that have the potential to scale and make a significant impact.
- Investment Focus Areas: Product innovation, technology, scale, empowering local artisans
- Notable Investments: Rare Planet
- Venture Catalysts
- Details: Venture Catalysts is a leading early-stage investment firm in India. They provide funding, mentorship, and networking opportunities to startups across various sectors.
- Investment Focus Areas: Technology, consumer products, healthcare, fintech, education
- Notable Investments: Rare Planet
- Sagar Daryani
- Details: Sagar Daryani is the Co-Founder of Wow! Momo, a popular Indian fast-food chain specializing in momos. He is an entrepreneur with a keen interest in the food and beverage industry.
- Investment Focus Areas: Food and beverage, retail, startups
- Notable Investments: Rare Planet
What's Next for Rare Planet?
Rare Planet stands on the cusp of significant growth, driven by the expanding global market for handmade and artisanal products. With the $8 billion handicrafts market in sight, the company aims to broaden its product range and enter new geographical markets, both domestically and internationally. This expansion is poised to create substantial opportunities for local artisans, empowering them to become micro-entrepreneurs.
Future fundraising efforts are likely to follow, building on the momentum of their successful pre-Series A round. These funds will be crucial for scaling operations and enhancing their online presence. However, challenges such as maintaining product quality and navigating a competitive market remain. By leveraging technology and innovation, Rare Planet can overcome these hurdles and continue to support rural artisans while growing its business.
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