Live commerce platform Peepul Tree announced it has raised USD 6 million, about Rs 49 crore, in an investment round led by Elevar Equity, according to PTI report.
The company plans to utilise the fund to onboard content creators, digitise the artisan supply chain and build technology to bring together artisans, content creators and customers on a single platform.
“We are thankful to Elevar Equity for believing in our vision and joining our journey to become the largest storytelling and shopping marketplace for authentic, hand-made, well-designed products from the very best artisans in India, offering both experience and connection,” Peepul Tree founder Anish Williams said in a statement.
Backed by the fundraise, Peepul Tree aims to support 1,00,000 artisans and more than 500 crafts and onboard 1,000 content creators on its platform by the end of 2023.
“This investment in Peepul Tree, in line with our other recent investments, showcases Elevar’s strong belief in the potential of rural India and is an opportunity to impact the livelihoods of millions of rural households,” Elevar Equity Managing Partner Jyotsna Krishnan said.
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