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Vaaree Secures INR 20.78 Cr in Pre-Series A Funding Round Led by Capier Investments and Surge Ventures

Vaaree

Vaaree Secures INR 20.78 Cr in Pre-Series A Funding Round Led by Capier Investments and Surge Ventures

Vaaree, a burgeoning name in the home furnishing sector, is set to elevate its market presence with a fresh infusion of INR 20.78 Cr ($2.5 Mn) in Pre-Series A funding. This funding round is spearheaded by Bengaluru-based venture capital firm Capier Investments, with significant participation from Peak XV’s Surge Ventures, which is known for backing innovative Indian startups like Ethereal Machines, InCore, Mindgrove, and ZeroK.

Key Highlights of the Funding Round

  • Lead Investors: The round is led by Capier Investments, alongside Surge Ventures.
  • Board Resolution: In March, the company’s board approved the issuance of 3,063 Pre-Series A cumulative compulsorily convertible preference shares to raise the capital, each share valued at INR 10.
  • Investor Contributions: Capier Investments will contribute INR 12.47 Cr, while Surge Ventures will invest INR 8.31 Cr.

About Vaaree

Founded in 2022 by Garima Luthra, Pranav Arora, and Varun Vohra, Vaaree is an omnichannel home decor startup. The company offers a diverse range of products, including kitchenware, home decor items, bedding, and furnishing, catering to the growing demand for stylish and affordable home decor solutions in India.

Previous Funding and Utilization

Last year, Vaaree successfully raised $4 Mn in a funding round led by Surge Ventures, with contributions from PeerCapital, All In Capital, and Better Capital. These funds were primarily directed towards expanding the team and enhancing the user experience on their online platform.

Angel Investors and Market Potential

Vaaree has also attracted investments from notable angel investors such as Kunal Shah, co-founder and CEO of CRED, Vineeta Singh, co-founder and CEO of Sugar Cosmetics, and Gazal Alagh, co-founder of Mamaearth.

The Indian home decor market is poised for significant growth, projected to reach a valuation of $40.98 Bn by 2028, growing at a CAGR of 4.14%. This promising market potential is attracting substantial investor interest, leading to the emergence of new players and increased funding activities in the sector.

Industry Context

The home decor sector in India has witnessed a flurry of activity. Livspace, a home renovation and interiors platform, entered the unicorn club in 2022 after raising $180 Mn in its Series F round led by private equity group KKR. Livspace is now planning to shift its domicile from Singapore to India, with an IPO on the horizon. Similarly, HomeLane, another home interior solutions startup, raised INR 75 Cr from existing investors last year.

Conclusion

Vaaree’s latest funding round marks a significant milestone in its growth journey. With the backing of Capier Investments and Surge Ventures, Vaaree is well-positioned to expand its market footprint and continue innovating in the home decor space. As the Indian home decor market continues to evolve, Vaaree’s strategic moves and robust investor support will likely drive its success in the coming years.


By leveraging this fresh capital, Vaaree aims to further its mission of providing stylish, affordable home decor solutions, making a mark in the rapidly growing Indian home decor market.

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