Rare Rabbit raises Rs 50 Cr from A91 Partners at $280M valuation
Rare Rabbit last raised Rs 150 crore from A91 Partners, Nk Squared, and Ravi Modi's Family trust in June last year.
Omnichannel fashion retailer Rare Rabbit has raised Rs 50 crore from existing investor A91 Partners at a valuation of $279 million
Radhamani Textiles Private Limited, the parent company of Rare Rabbit, received Rs 50 crore for 23, 073 shares, each valued at Rs 21,670. Post transaction, A91 Partners holds a 14.17% stake in the company, as per filings made with the Registrar of Companies (RoC).
The development was first reported by Entrackr.
This comes after the premium apparel retailer raised Rs 150 crore from A91 Partners, Nikhil Kamath-backed NkSquared, and Gruhas. The round, conducted in June 2024, also witnessed participation from Manyavar founder Ravi Modi's family trust and Vedant Modi.
House of Rare offers premium men's apparel under Rare Rabbit, women's fashion under Rareism and children's clothing under Rare Ones. It competes with Aditya Birla-backed Wrogn and Snitch in the men's fashion space.
Snitch last raised Rs 110 crore in its Series A funding round co-led by SWC Global and IvyCap Ventures Advisors and key angel investors in December 2023. TMRW House of Brands, an Aditya Birla Group venture, invested Rs 125 crore in Virat Kohli-backed Wrogn in June 2024. Aditya Birla Fashion and Retail later increased its stake in the company from 17.10% to 32.84%, with an additional investment of Rs 75 crore in October 2024.
Edited by Kanishk Singh