[Funding News] Nikhil Kamath, Manyavar Family Office Joins Rare Rabbit’s Rs 500 crore Funding: Report

Investment fund A91 Partners is leading the first institutional funding round of Rs 500 crore for the modern men’s clothing and design business Rare Rabbit.

Participating in the fundraiser will be the Nikhil Kamath, a co-founder of Zerodha, and family office of Ravi Modi, the creator of Vedant Fashions, which owns the ethnic apparel brand Manyavar. Together, their estimated investments will be close to Rs 150 crore.

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The fashion business along with Tata Capital had been in talks for finance last year, but the talks broke down, preventing the funding round from being finalized.

The multichannel menswear company now has about 135 physical stores, and following its initial funding round, it intends to grow rapidly.

Started in 2015, Rare Rabbit is a division of Radhamani Textiles, situated in Bengaluru. In addition to its flagship brand, Rare Rabbit, The House of Rare also owns the luxury women’s fashion brands, Rareism and Articale, for everyday wear.

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