Vikas Dosala, the co-founder of Fraazo, and Pawas Prakash, a senior executive at Fraazo, have embarked on a new entrepreneurial journey with their startup, Flaer. The emerging venture has successfully raised $2.5 Mn in a pre-seed funding round led by Singularity Ventures and the family office of Manish Choksi, Vice Chairman of Asian Paints. This strategic funding aims to establish Flaer as an omnichannel B2B2C platform revolutionizing the home interior supply ecosystem.
Flaer’s Vision and Funding Details: Dosala and Prakash, both alumni of the Indian Institute of Management, Calcutta, and seasoned professionals with a combined experience of 16+ years at Asian Paints, launched Flaer in stealth mode following the Swiggy acqui-hire of Fraazo’s supply chain team in October 2022. The startup, incorporated on November 28, 2023, aspires to redefine the home interior supply market.
Flaer secured $2.5 Mn in a pre-seed funding round from Singularity Ventures and Asian Paints’ Vice Chairman’s family office, with additional participation from three undisclosed angel investors. The funding will be instrumental in steering consumer behavior, identifying the product-market fit, and devising an effective go-to-market strategy.
Flaer’s Strategic Approach: The founders plan to make Flaer fully operational within the next three months, starting with a focus on wood and laminates – two essential categories among the nine in the home interior segment. Over the next 18 months, Flaer aims to expand its offerings by incorporating three more categories.
Learning from Fraazo’s Journey: Dosala and Prakash acknowledged the valuable lessons learned from their experience at Fraazo. The startup faced challenges during the funding winter and an untimely Series C funding attempt. Subsequently, Fraazo had to shut down several dark stores and eventually ceased operations after Swiggy’s acquihire.
With Flaer, the founders are emphasizing a measured approach, prioritizing the achievement of the right product-market fit over rapid growth and profitability in the initial years. Their insights from Fraazo’s trajectory will guide Flaer’s strategy in navigating the complexities of the home interior supply market.
Flaer’s Market Position and Competition: The Indian online home decor market is projected to grow at a CAGR of 10.79% between 2023 and 2028, reaching $4.78 Bn by the end of this period. Flaer enters a competitive landscape, challenging traditional hardware stores and established e-commerce platforms like Material Depot, IndiaMART, and Hippo Stores.
Despite the competitive nature of the market, Dosala and Prakash are optimistic, believing in the potential for multiple players to thrive. They envision the home interior supply space fostering 3-5 unicorns in the next 10-15 years.
