How Much Did Rare Planet Raise? Funding & Key Investors

Rare Planet has successfully raised funding over three Angel rounds, with notable investors including Namita Thapar and Sagar Daryani. The company specializes in handcrafted and handpainted terracotta and ceramic products, supporting local artisans.

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 is a retail startup based in Kolkata, West Bengal, India, specializing in handcrafted and handpainted terracotta and ceramic products. The company supports local artisans by promoting traditional craftsmanship through a variety of unique, artistic items.

Founded in an unspecified year, Rare Planet has grown to employ between 51-100 people. The company offers products such as coffee mugs, kulhads, vases, and other home and kitchen accessories, and provides free shipping for orders over Rs. 1000 along with a 7-day return policy.

How Much Funding Has Rare Planet Raised?

1. Angel Round
   • Amount Raised: INR 6,500,000 (approximately USD 86,000)
   • Date: March 2022
   • Lead Investors: Namita Thapar
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the growth and expansion of Rare Planet, enabling it to continue its mission of selling handicrafts made by local artisans.
2. Seed Round
   • Amount Raised: INR 35,000,000 (approximately USD 470,000)
   • Date: October 2020
   • Lead Investors: Uni-M Ventures, Venture Catalysts
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To grow Rare Planet's product range, expand into new markets, and widen its online business.
3. Seed Round
   • Amount Raised: USD 160,000
   • Date: May 2019
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To establish and grow the business, focusing on promoting indigenous Indian handicrafts and empowering local artisans.

Total Amount Raised: USD 716,000. Current Valuation: Not publicly disclosed.

Key Investors

• Namita Thapar
  • Details: Namita Thapar is a prominent investor and a lead investor in the Angel Round for Rare Planet. She is known for her involvement in various entrepreneurial ventures.
  • Investment Focus Areas: Not publicly disclosed.
  • Notable Investments: Rare Planet.
• Uni-M Ventures
  • Details: Co-founded by Nav Bhaiya, Uni-M Ventures is an investment firm that focuses on product innovation, technology, and scale. They led the pre-Series A funding round for Rare Planet.
  • Investment Focus Areas: Product innovation, technology, scale.
  • Notable Investments: Not publicly disclosed.
• Venture Catalysts
  • Details: Venture Catalysts is a leading early-stage investment firm in India. They co-led the pre-Series A funding round for Rare Planet.
  • Investment Focus Areas: Early-stage startups across various sectors.
  • Notable Investments: Not publicly disclosed.
• Sagar Daryani
  • Details: Sagar Daryani is the Co-Founder of Wow! Momo, a popular Indian fast-food chain. He participated in the pre-Series A funding round for Rare Planet.
  • Investment Focus Areas: Food, lifestyle.
  • Notable Investments: Wow! Momo.

What's Next for Rare Planet?

Rare Planet stands at the cusp of significant growth opportunities. With plans to expand its product range and enter new markets, the company aims to disrupt the $8 billion handicrafts market. The increasing global demand for handmade and artisanal products presents a substantial opportunity for Rare Planet to scale its operations and promote Indian handicrafts on a global stage.

Future fundraising rounds are likely as the company continues to grow. The successful pre-Series A round led by Uni-M Ventures and Venture Catalysts indicates strong investor confidence. This financial backing will be crucial for Rare Planet to enhance its online business and reach a broader audience.

However, challenges lie ahead. Navigating the economic impact of the pandemic, maintaining product quality while scaling operations, and competing in a diverse market are significant hurdles. Despite these challenges, Rare Planet's commitment to empowering local artisans and leveraging technology positions it well for future success.

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