Saturday, 25 May 2024, Bengaluru, India
Vaaree is a Home Décor startup seeking to raise $2.5 million in Pre-series A funding. This funding round had the participation of Peak XV’s Surge Ventures and was led by Venture capital firm Capier Investments. VC firm will be investing more than Rs 12 crore while Peak XV’s surge is planning to invest Rs 8.31 crore, Inc42 reported.
The filing mentioned that Vaaree’s board of directors had passed a statement to raise 3,603 Pre-series A cumulative compulsorily convertible preference shares in March, to raise Rs 20.78 crore with a face value of Rs 10 each. The startup was founded by Garima Luthra, Pranav Arora, and Varun Arora. The startup aims to offer an omnichannel network while providing products varying from kitchenware to home décor items such as furnishing and bedding. In 2023, Vaaree raised $4 million in a funding round led by Peak SV’s surge with other investors including Peercapital, Better Capital, and more.
Image source: Vaaree.com
This Beangaluru-based startup has also raised funding from angel investors such as CRED co-founder and Suhar cosmetics CEO among others. The home décor market in India is expected to grow at a CAGR of 4.14% and reach a valuation of $40.98 billion by 2028. This is one of the many reasons for the increasing interest of investors in this home décor startup. TheKredible estimated the startup to be valued at around $21.6 million in post-money valuation. Vaaree was a part of the eighth cohort of Peak XV Surge’s accelerator program and it also raised funds from angel investors such as Varun Dua, Arjun Vaidya, Vineeta Singh, Kunal Shah, Ghazal Alagh, Manish Dugar, Suhail Sameer, Anjali Bansal and Ruchi Deepak, among others.
The startup reported its FY23 revenue to be Rs 1.9 crore while they faced a loss of s 3.5 crore. Vaaree gives competition to known startups in this sector such as Homelane, Livspace, and Furlenco. This startup has raised a total of $7 million to date, including the $4 million seed money led by Peak XV’s surge venture.
Conclusion:
Bengaluru-based, Vaaree is a Home décor startup that is looking to raise $2.5 million in a Pre-series A fund round led by Venture Capital’s firm Capier Investments. The startup aims to offer an omnichannel network while providing products varying from kitchenware to home décor items such as furnishing and bedding. In 2023, Vaaree raised $4 million in a funding round led by Peak SV’s surge with other investors, including Peercapital, Better Capital, and more.
Vaaree’s board of directors had passed a statement to raise 3,603 Pre-series A cumulative compulsorily convertible preference shares in March, to raise Rs 20.78 crore with a face value of Rs 10 each. The startup was founded by Garima Luthra, Pranav Arora, and Varun Arora. TheKredible estimated the startup to be valued at around $21.6 million in post-money valuation.
Vaaree was a part of the eighth cohort of Peak XV Surge’s accelerator program and it also raised funds from angel investors such as Varun Dua, Arjun Vaidya, Vineeta Singh, Kunal Shah, Ghazal Alagh, Manish Dugar, Suhail Sameer, Anjali Bansal and Ruchi Deepak, among others.
