Character Merchandising startup, Planet Superheroes has closed Rs.3.6 crore in Pre-Series A funding round in a deal led by DSG Consumer Partners, Lead Angels and UK based The Character Group PLC among others. This is the company’s first round of fund raise as it was completely bootstrapped till date. The raised funding will go towards increasing its portfolio of licensed character merchandise in addition to creating a robust distribution channel across India.
Planet Superheroes focuses on the character merchandising space which includes fan based merchandise such as Superheroes, Cartoons, TV Shows, as well as similar genres which have visually appealing graphics such as Gaming and Licensed Art. Currently, the company offers the product collection across categories from apparel to accessories. It provides a range of over 50 characters across more than 50 categories on its platform.
Superhero Brands was founded by Jaineel Aga, Sumit Shah and Karan Rai, who have experience in private equity, consulting, retail and investment banking.
Commenting on their investment plans, Deepak Shahdadpuri, Managing Director, DSG Consumer Partners said, “We have been impressed with the team’s focus, financial maturity and vision in building a sustainable and long lasting business in this fast growing character merchandising space. The company has demonstrated an ability to work with leading brand owners and over time will develop and sell merchandise across categories. It is well positioned to become one of the leading licensing and merchandising companies in India.”
The company will continue to partner with the international and domestic content owners to develop and distribute a portfolio of licensed merchandise throughout India. Talking about Superhero’s vision, Jaineel Aga, the CEO & Cofounder said, “Our vision is to be the category leader in the character licensing and merchandising space in India with a robust omni-channel distribution strategy.”