🏠 Arrivae Secures INR 21 Crore Funding to Enhance Interior Design Solutions.
📝 SUMMARY:
Arrivae, an interior design solutions startup, has raised INR 21 crore (approximately $2.5 million) in an extended Series B funding round from Mithun Sacheti, the co-founder of CaratLane. The investment will fuel Arrivae's expansion plans, including distribution network enhancement, deeper market penetration, and strengthening the supply chain. Sacheti has also joined Arrivae's board, alongside existing members Madhusudhan Kela, Yash Kela, and Raghav Bubna.
📈 KEY HIGHLIGHTS:
- Arrivae secures INR 21 crore funding from Mithun Sacheti to bolster its interior design solutions business.
- The fresh capital infusion will support Arrivae's efforts to expand its distribution channels, further penetrate existing markets, and fortify its supply chain infrastructure.
- With Mithun Sacheti joining Arrivae's board, the startup aims to leverage his expertise and experience to enhance its strategic direction and growth trajectory.
- Founded in 2018 by Yash Kela, Arrivae offers comprehensive home interior solutions from design to manufacturing, boasting a catalogue of over 10 lakh products priced between INR 75,000 to INR 3 crore.
- This funding round follows Arrivae's previous investment of INR 75 crore in 2022 from investors like Think Investments and Havells Group, as well as support from prominent angel investors such as Rekha Jhunjhunwala and Harsh Jain.
- The Indian home decor market, driven by rising disposable incomes and increasing e-commerce adoption, is witnessing substantial growth, projected to reach $67.4 billion by 2032, up from $31.5 billion in 2023.
- This funding reflects investors' growing interest in the home decor sector, evidenced by recent investments in startups like Varee, which secured $4 million led by Peak XV's Surge in November last year.
🔍 OUTLOOK:
- Arrivae's latest funding round underscores the growing demand for professional home decor solutions in India and the increasing investor interest in the sector. With a focus on enhancing its offerings and expanding its market presence, Arrivae is poised to capitalize on the evolving landscape of interior design and home decor.
Arrivae
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Co Founder at OM Bhakti | PwC | Deloitte
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