Tuesday, September 26, 2023

Live Ecommerce Startup Collaborating with Local Artisans Raises $6M in Launch Round Led by Elevar Equity

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  • Peepul tree aims to support 1 lakh artisans and more than 500 crafts by the end of 2023 and get 1,000 content creators on board its platform.
  • The money will be used to onboard content creators, digitize the art supply chain and build technology to empower craft communities everywhere India.
  • According to Peepul Tree, an estimated 200 million people in India depend on local arts and crafts for their livelihoods.

Peepul Tree, a live-commerce platform connecting Indian artisans with global consumers, has raised $6 million in seed funding led by Elevar Shares. Peepul Tree aims to enable the discovery of India’s cultural heritage through immersive, shoppable stories and experiences.

The money will be used to onboard content creators to showcase the heritage behind their products. The capital will also be used in digitizing the craft supply chain and building technology to bring artisans, content creators and customers together on a single platform, Peepul Tree said in a statement.

Moreover, supported by the fundraising, Peepul Tree aims to support 1 lakh artisans and more than 500 crafts by the end of 2023 and have 1,000 content creators on board on its platform.

Peepul Tree was founded in 2022 by Anish Williams, Mini Menon and Priya Jayaraman.

“While there are many players targeting this market, the nuances of business models differ significantly and Peepul Tree is unique in its DNA building for the artisans. Anish, Priya and Mini bring a great mix of experience, networking and ambition, capitalizing on strong global trends that will help build momentum over the next 5-10 years.” Jyotsna Krishnanmanaging partner, said Elevar Equity.

There are about 200 million people in India estimated to depend on local arts and crafts for their livelihoods, through formal and informal channels, the company said.

Despite a large market and high margins, the current supply chain construction does not distribute margins fairly 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, making it impossible for the actual product developers to compete and thrive in the global market.

Peepul Tree aims to leverage this vastly underserved supply chain and enable the creation of a global brand presence for Indian artisans. This will be powered by the creator economy along with storytelling powered by Live History India – Peepul Tree‘s content poor, it said.

“We are committed to providing access to a global marketplace and a credible platform to artisans who have been at the helm of protecting age-old traditions and sustainable processes, while ensuring consumers have a mindful shopping experience of a lifetime. discover and take back,” said Williams, co-founder, Peepul Boom.

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