Superhero brand Planet Superheroes, which sells licensed character merchandise, Friday said it has raised USD 2 million (approx Rs 13.83 crore) in a funding round led by DSG Consumer Partners and Japan-based AET Funds.

"The funds raised will be used for expansion of retail footprint and distribution channels, solidify tech to optimise the entire supply chain and increase licensing partnerships across new segments and product categories," the company said in a statement.

The second tranche of funding, which could be a mix of debt and equity, is expected to close by the end of this quarter, it said.

Planet Superheroes said it plans to expand to tier-II cities and will also launch first-of-its-kind cinema stores with a strategic tie-up with PVR Cinemas.

It has partnered with Marvel, Warner Bros, Cartoon Network, Fox Studios, EONE and Disney to provide Indian fans original superhero merchandise from all over the world.

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