A premium & luxury fashion startup focused on New-age men, Rare Rabbit is ending its institutional funding round of Rs. 500 crore directed by prominent investment firm A91 Partners.

Also the fundraise is expected to the see the participation from the family office of Ravi Modi – Founder of Vedant Fashions that operated ethnic & cultural brand Manyavar & Nikhil Kamath – Co-Founder, Zerodha. They are probably to put their capital nearly Rs. 150 crore together.

According to the people aware about the funding deals, the total transaction will see around Rs. 250 crore in crucial capital receive to the company with the rest of the capital being a secondary share sale by the husband-wife two-some Akshika & Manish Poddar

After the funding round, the valuation of Rare Rabbit stood at Rs. 2,200 crore. Till now, the startup is self-fundedself-funded & emerging as a key player among the competitive landscape of D2C brands.

One of the investor from the round said, “Many premium brands have crossed the Rs 1,000-2,000 crore revenue mark as apparel premiumisation proceeds at a rapid pace … In a year like FY24, when growth has been slower for many brands, the premium segment has grown at a fast clip”.

Established in the year 2015, Rare Rabbit is boarded under the company Radhamani Textilesbased in Bengaluru.