Unitus Ventures Newsletter – August 2013

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Unitus Ventures invests in Caravan Craft to support India artisanal product development and retail operations

Unitus Ventures Invests in Caravan Craft

Although the crafts sector with an estimated market size of about USD 8.3 billion (Rs 50,000 crore) is India’s second largest employer after agriculture, this crafts tradition and the millions who make a livelihood in it face an insecure future. Caravan Craft Retail Private Limited, a Bangalore-based venture is set to launch a new single-brand retail concept in India by creating uniquely designed products using traditional skill sets of artisans and fusing them with design and technology to satisfy ‘staple’ needs of consumers around the world. The company envisages training 350,000 artisans across India and engaged in diverse crafts from leather goods to metalworking to weaving and embroidery over a period of ten years. Read more >

Milaap Raises $1.1m New Funding

Unitus Ventures is one of the Series-A investors in Milaap Social Ventures, South Asia’s leading impact-focused fundraising platform that raised 6.6 core INR ($1.1 million USD) in venture funding. The new funding will be utilized to enhance online product experience, expand marketing outreach, and scale operations. Milaap Social Ventures aims to help the more than 48 crore (480 million) Indians mostly living in the rural and semi-urban areas and who are outside of the formal banking system. To date, Milaap has raised over 4.7 crore INR (US$800,000) in loans impacting over 25,000 lives across 10 states in India. These funds have provided better school infrastructure, access to clean water, safe lighting for families, etc. Read more >

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