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Rare Planet raises ₹3.5 crore in pre-Series A round

Our Bureau | Updated on October 19, 2020

Funds will be used to expand into newer markets

Kolkata-based retail aggregator Rare Planet has raised ₹3.5 crore in pre-Series A funding led by Uni-M Ventures and Venture Catalysts, with participation from Wow! Momo co-Founder Sagar Daryani.

In May 2019, the firm raised a seed round of ₹1.1 crore led by Venture Catalyst.

The fund-raising will allow Rare Planet to grow its product range, expand into newer markets and widen its online business.

With this investment, it aims to take handmade Indian handicrafts, jewellery and decor products made from terracotta, copper, ceramic, brass, wood, and marble among others to a global stage, the company said in a statement.

Set up in 2015 by Ranodeep Saha and Vijay Kumar, Rare Planet aims to promote indigenous Indian handicrafts by empowering local artisans, and thereby providing them employment opportunities. To date, the start-up has helped more than 2,000 artisan families from rural areas to register an average increase of 120 per cent in income.

Published on October 19, 2020

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