Rare Rabbit, an India-based direct-to-consumer (D2C) fashion brand, has secured 50 crore rupee (US$5.7 million) in funding from existing investor A91 Partners.

This investment is part of a larger funding round totaling 500 crore rupee (US$57.5 million).

The company’s board approved the issuance of 23,073 shares at 21,670 rupee (US$249.44) each.

This recent funding follows Rare Rabbit’s decision in January to increase its authorized share capital to support growth and manage working capital needs.

Founded in 2015 by Manish and Akshika Poddar, Rare Rabbit operates brands like Rare Rabbit, Rareism, and Articale.

The company saw a 69% increase in operating revenue to 637 crore rupee (US$73.32 million) for the 2023-24 financial year, with net profit doubling to 74.5 crore rupee (US$85.75 million).