Vaaree, a burgeoning home furnishing startup, is poised to take its next leap forward with an ambitious Pre-Series A funding round. Led by Bengaluru-based venture capital firm Capier Investments, the round aims to raise INR 20.78 Cr ($2.5 Mn), signaling investor confidence in the startup’s growth prospects.
A Collaborative Investment Endeavor
Capier Investments, spearheading the funding round with an infusion of INR 12.47 Cr, reflects its conviction in Vaaree’s vision and potential. Joining forces, Peak XV’s Surge Ventures, renowned for its support of prominent Indian startups, further bolsters the funding round with an investment of INR 8.31 Cr.
Strategic Planning and Board Resolution
The strategic decision to initiate the funding round was formalized through a resolution by Vaaree’s board of directors in March. The issuance of 3,063 Pre-Series A cumulative compulsorily convertible preference shares, valued at INR 10 each, underscores the company’s commitment to fueling its growth trajectory.
Vaaree’s Journey: From Inception to Expansion
Founded in 2022 by Garima Luthra, Pranav Arora, and Varun Vohra, Vaaree has emerged as an omnichannel home decor startup, offering a diverse range of products spanning kitchenware, home decor items, bedding, and furnishings. Building on its previous fundraising success, Vaaree raised $4 Mn in a funding round led by Peak XV’s Surge last year, demonstrating its potential in the competitive home decor market.
Recognition and Investor Appeal
Vaaree’s promising trajectory has not gone unnoticed, earning it a coveted spot in Inc42’s ’30 Startups To Watch’ column in July 2023. Backed by angel investors such as Kunal Shah, Vineeta Singh, and Gazal Alagh, Vaaree continues to attract investor interest and support.
Seizing Opportunities in a Growing Market
With India’s home decor market poised for substantial growth, Vaaree’s expansion plans align with broader market trends. As consumer demand for home furnishing solutions escalates, fueled by factors such as urbanization and lifestyle changes, Vaaree is well-positioned to capitalize on emerging opportunities.
In conclusion, Vaaree’s pursuit of Pre-Series A funding underscores its commitment to innovation and expansion in the competitive home decor landscape. With strategic investor partnerships and a compelling growth trajectory, Vaaree is poised to redefine the home furnishing experience for consumers across India.
