Live ecommerce startup working with local artisans raises $6 million in seed round led by Elevar Equity
Peepul Treeaims to support 1 lakh artisans and over 500 crafts, and onboard 1,000 content creators on its platform by the end of 2023.
- The funds will be used to bring onboard content creators, digitise art supply chain and build technology to strengthen artisan communities across
- An estimated 200 million people in India are dependent on local artforms and handicrafts for a living, according to Peepul Tree.
AdvertisementPeepul Tree, a live-commerce platform connecting India’s artisans to global consumers, has raised $6 million in a seed funding led by
The funds will be used to onboard content creators to showcase the heritage behind their products. The capital will also be utilised in digitising the artisan supply chain and building technology to bring together artisans, content creators and customers on a single platform, said Peepul Tree in a statement.
Backed by the fundraise, Peepul Tree additionally aims to support 1 lakh artisans and over 500 crafts and onboard 1,000 content creators on its platform by the end of 2023.
Peepul Tree was founded in 2022 by
“While there are many players addressing this market, the nuances of business models differ significantly and Peepul Tree is unique in its DNA that builds for the artisans. Anish, Priya and Mini bring in a great mix of experience, networks & ambition and are leveraging strong global trends that will help build momentum over the next 5-10 years,”
There are around 200 million people in India estimated to be dependent on local artforms and handicrafts for a living, through formal and informal channels, the company said.
Despite a large market and high margins, the current supply-chain construct does not equitably distribute margins back to the actual creator of the product – the artisan, the company said., adding that this could be attributed to the lack of resources and deal-making know-how, which makes it impossible for the actual product creators to compete and thrive within the global market.
Peepul Tree wants to tap into this massively underserved supply chain and enable the creation of a global brand presence for Indian artisans. This will be driven by the creator economy along with storytelling powered by
“We are committed to providing access to a global marketplace and a credible platform to artisans that have been at the helm of safeguarding centuries-old traditions and sustainable processes whilst ensuring the consumers discover and take back a conscious retail experience of a lifetime,” said Williams, co-founder, Peepul Tree.
SEE ALSO: India moves up 5 ranks on Henley’s most powerful global passports index – Here are the top 10
This Shark Tank India S2 winner bowls judges over with its for-profit approach to social impact
Popular on BI
- Toyota was right about hybrid cars all along
- The youngest son of Asia's richest man is getting married, and the pre-wedding event features Rihanna, a 9-page dress code, and live animals
- Check out some of the best and most daring looks at Ambani's pre-wedding bash — from Rihanna to Mark Zuckerberg
- Bengaluru cafe blast: Karnataka CM Siddaramaiah to chair meeting with top police officials today
- India retains full policy space for benefit of farmers, fishermen at WTO: Goyal
- Sensex, Nifty settle at new closing high levels in first part of special live trading session
- Passive Income Streams
- Gas stoves create more nanoparticle pollution than a busy street with diesel and gas cars, study finds