The Rare Planet
2 years ago Nethrikaa GreeshmaRare Planet has bagged a final deal with Shark, Namita Thapar. The structure of the deal includes INR 65 Lakhs investment for 3% equity in the startup!
Rare Planet’s Journey of Digitizing Indian Handicrafts
Rare Planet, Kolkata Base is a retail lifestyle startup launched in 2017 which promotes and sells Indigenous Indian Handicrafts in offline and online markets along with giving a sustainable income to local artisans. Ranodeep Saha and Vijay Kumar TR are the co-founders of Rare Planet. Saha founded the company in 2015 and Vijay joined him in 2019. Ranodeep did his B.Tech (computer science) from IIT, Calcutta, and between his studies, he started this business to support his education. In his first outlet in a book store, he made INR 1.5 lakh sales in just the first month. Vijay had experience in Luxury and Airport retail. Both then joined as co-founders and raised more funds from startup incubators like Venture Catalysts.
They sell handmade kulhads, bowls, kettles, copper bottles, and mugs, all hand-painted by local artists. Their handicraft items are available on their online store and some offline shops at Airports. They also own a gift shop in Durgapur, West Bengal. They were already having revenue of INR 1 crore per month before this pitch with a 12% net profit. The entrepreneur wanted INR 65 lakhs funding for 1% shares from the Sharks as their future goal is to open more stores in airports, start retail in shopping Mall shops, and expand their product line.
Rare Planet has done business of one crore before coming to India. It is currently working with 2,500 local artisans in 5 states. Rare Planet makes the product available in more than 60 stores including Crossword, Stratmark, WH Smith, and Sapna Books. It is also available on the online platform Flipkart, Amazon, and MenXp with its website
The founder says that he made a revenue of Rs 6 crore last year. The owners of this brand, Ranodeep Saha And Vijay Kumar have pitched the sharks very well and impressed them. They bagged a final deal by Namita Thapar of INR 65 Lakhs investment for 3% Equity, thus, becoming a shareholder of ₹65 Crores Net valuation! Let’s all wish them great success.
