VC Fund Investments
Premium apparel brand Rare Rabbit raises Rs.50-Cr led by A91 Partners
Bengaluru-based fashion brand Rare Rabbit has raised INR 50 crore (around USD 6 million) from its existing investor, A91 Partners. Post investment, A91 Partners' stake in the company has gone up to 14.17% compared to 9.65% in its previous round.Founded in 2015 by Manish Poddar, and Akshika Poddar, Rare Rabbit is a premium fashion brand known for its designer clothing for men and women. It currently operates over 100 stores across India, and also sells online on its portal.Rare Rabbit showcased a 69% revenue growth from INR 376 crore in FY23 to INR 636 crore in FY24. The company's profits surged over 2X to INR 74.6 crore in FY24, compared to INR 32.2 crore in FY23.
In June 2024, Rare Rabbit had raised about USD 18 M from A91 Partners, Gruhas Proptech, and other angel investors.For FY24, Rare Rabbit had reported about INR 636 Cr in Operating Income and about INR 74.6 Cr in PAT.
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