Bangalore-based Caravan Craft receives funds from Unitus

Caravan Craft, a Bangalore based women’s apparel

and home décor retail store has raised Rs one crore from Unitus Seed Fund. This fund would be mobilized towards setting up single brand retail stores and enhancing its supply chain. The first store is slated to open its doors in Bangalaore.

Caravan Craft is a social venture by Sudipta Sinha, Manjeshwar Ramdas Ashutosh, Kunal Sachdev, Sonal Sachdev. It runs retail stores for which the material is sourced from craftsmen and artisans from across India. The company works on an integrated business model with revenue from sale of crafts produced by artisans based on the managerial skill training, design interventions and market linkages provided by Caravan to artisans through setting up of cooperatives.

Unitus Seed Fund, is part of the Unitus Group, which is backed by Vinod Khosla. It is a new investment fund based in Bangalore and Seattle that provides opportunities for economic self-reliance, education, and obtaining basic necessities to people living at the base of the economic pyramid. It funds early-stage BoP startup that serves low-income populations. Unitus Seed Fund, which was launched in January, plans to make between 30 and 40 investments over its life-cycle and is looking to close ten similar transactions this year. It has secured over $8 million in investment commitments for its seed-stage venture capital fund focused on accelerating 'BoP startups'.