Prominent investor and ‘Shark Tank India’ judge Namita Thapar has registered her maiden exit from any investment made on the startup reality show.
Thapar had invested an undisclosed sum in Rare Planet, an airport retail chain, during the first season of Shark Tank India in 2021. With its exceptional growth in under two years, she has managed a 3.5x return on investment while taking a partial exit from the company.
Founded by entrepreneurs Ranodeep Saha and Vijaya Kumar TR, Rare Planet caught the eye of several sharks through its unique business model and social impact. Since Namita Thapar backed the startup, its revenue has multiplied five times over while expanding from 5 to over 37 airports across India.
Rare Planet’s store count now stands at 50 outlets, including a luxury retail format called Rare Planet Luxe. The company will be unveiling more specialized store options at tier-2 airports going forward. Its product range has also diversified from handcrafted souvenirs to include fashion accessories and packaged F&B.
A highlight of Rare Planet is how it sources authentic regional handicrafts from over 10,000 artisans, empowering local talent. Thapar had been impressed by its commitments to uplift artisans by funding children’s education and increasing incomes by 180%.
Announcing her partial exit at 3.5x returns, Thapar underlined the startup’s achievement in such a short timeframe. Industry analysts have hailed this exit as a positive signal for India’s burgeoning startup funding ecosystem. It also highlights the meteoric growth attained by ventures gaining recognition through platforms such as Shark Tank India.
With its expansion of footprint and deepening of social impact, Rare Planet serves as a trailblazing example of how the Shark Tank India wave is positively transforming entrepreneurial aspirations into scalable ventures generating wealth and employment.
