Vinod Khosla-backed Unitus Seed Fund to invest up to Rs 1 cr in Caravan Craft
Thursday, August 15, 2013
NEW DELHI: Unitus Seed Fund, backed by marquee investor Vinod Khosla has made its third investment of the year, funding Bangalore-based Caravan Craft Retail, as capital flow increases for social ventures in areas beyond micro-finance. This year Unitus expects to close ten such transactions.
In this latest deal, the fund will invest up to 1 crore in the Bangalore-based company that will use the money to set up stores and build its supply-chain system.
Co-promoted by Kunal Sachdev, the former chief executive of luxury brand Hidesign, Caravan is a single-brand retail venture that sells women apparel and home decor items, and sources materials from traditional artisans across the country.