Image Credits: Shark Tank India
Last updated on 25 January 2022. Find out what happened with the ‘Rare Planet’ pitch on Shark Tank India, its co-founder Ranodeep Saha and the latest updates about his company!
Rare Planet on Shark Tank India
This Indian handicraft company got featured in season 01 episode 26.
Here are the key details about their pitch on Shark Tank India:
| Business Name | Rare Planet |
| Founders | Ranodeep Saha & Vijay Kumar TR |
| Episode no. | Season 01 Episode 26 |
| Ask | ₹65 Lakhs for 1% Equity |
| Accepted Offer | ₹65 Lakhs for 3% Equity |
| Shark | Namita Thapar |
| Current Status | In-business |
Rare Planet was started in 2015 by co-founder Ranodeep Saha. They sell handmade kulhads, bowls, kettles, copper bottles and mugs, all hand-painted by local artists.
They were already having revenue of ₹1 crore per month before this pitch with a 12% net profit.
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. Here is one of their traditional Terracotta Mug on Amazon India: (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3u2iMfN
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The entrepreneur wanted ₹65 lakhs funding for 1% shares. Their goal is to open more stores in airports, start retail in shopping Mall shops, and expand their product line.
Namita was a fan of their business before because she had visited their store a few days ago. She immediately offered a deal for a 5% stake.
But Peyush was worried about their dependency on airports. Vineeta explained that this is difficult to go beyond airports because people buy these there for gifting and that is different from selling in malls.
Ghazal & Anupam were not happy with the lack of branding in their products. That’s why all 4 sharks were out.
Only Namita was left! In the end, shark Namita Thapar closed the deal for ₹65 lakhs for 3% equity.
Who are its co-founders?
Ranodeep Saha and Vijay Kumar TR are the co-founders of Rare Planet. Ranodeep 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 ₹1.5 lakh sales in just the first month.
He has also given a JoshTalk in 2018:
When his startup grew, he met Vijay who had experience in Luxury and Airport retail. Both then joined as co-founders and raised more funds from startup incubators like Venture Catalysts.
Fun Fact: Venture Catalysts are investors in many more Shark Tank India companies like Altor Helmet, Tagz Foods and qZense Labs.
After Shark Tank Updates
In August 2020, they partnered with TATA premium Tea in a marketing campaign ‘#DeshKaKulhad’ to support India’s craftsmen.
They also have begun retailing handicraft jewellery ‘SITARA’ at their airports. We will update this article when they will add more items to their catalogue.
By the way, two other businesses featured in this episode were ISAK Fragrances and Julaa Automation.
Finally, let’s take a look at their official company pitch: “Rare Planet is a place of talent, a recent start-up provided a huge platform to these incredible talents, to showcase their creativity. Since 2015 it has focused on selling the products, such as mugs, copper bottles, cups plates, etc.”
Takeaways
So now you know about Rare Planet’s pitch on the Shark Tank and what deal they got on the show. We wish them success!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark tank.