Vaaree Secures $2.5 Mn in Pre-Series A Round by Capier Investments

Home Furnishing & Decor startup Vaaree has successfully raised Rs 20.78 crore ($2.5 million) in a pre-Series A funding round, spearheaded by Capier Investments and joined by Peak XV’s Surge Ventures.

This fresh infusion of capital is poised to bolster Vaaree’s growth and expansion plans within the competitive home decor market.

The board of Vaaree has passed a special resolution to issue 3,063 pre-Series A CCPS at an issue price of Rs 67,856 each, raising a total of Rs 20.78 crore. According to regulatory filings accessed through the Registrar of Companies, Capier Investments contributed Rs 12.47 crore, while Surge Ventures invested Rs 8.31 crore. The funding round is anticipated to attract additional investments.

Valued at approximately Rs 180 crore ($21.6 million) post-money, Vaaree has now accumulated around $7 million in total funding. This includes a $4 million seed round in September last year, led by Peak XV’s Surge Ventures with participation from Vistra, Better Capital, Capier Investments, and All in Capital.

Established in 2022 by Garima Luthra, Pranav Arora, and Varun Vohra, Vaaree specializes in home decor, offering a wide range of products across categories such as furnishing, kitchen, decor, bath, and garden. The startup was part of the eighth cohort of Surge’s accelerator program and has received backing from prominent angel investors including Kunal Shah, Arjun Vaidya, Vineeta Singh, Ghazal Alagh, Varun Dua, Manish Dugar, Anjali Bansal, Suhail Sameer, and Ruchi Deepak.

In its inaugural fiscal year (FY23), Vaaree reported revenues of Rs 1.91 crore, with losses amounting to Rs 3.5 crore. The financial results for FY24 are yet to be disclosed.

Vaaree’s recent funding round positions it well among other notable players in the home decor sector, such as Livspace, HomeLane, and Furlenco. Emerging companies like DecorTwist, Sunday Design, and KraftInn have also successfully raised funds in recent years, indicating robust investor interest in the home decor space.

The capital raised will enable Vaaree to enhance its product offerings, expand its market presence, and strengthen its operational capabilities, thereby solidifying its position in the burgeoning home decor industry.

Source: Entrackr

Disclaimer: This information is covered based on the latest research and development available. However, it may not fully reflect all current aspects of the subject matter.

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