[Funding alert] Arrivae secures Rs75 Cr in Series B from Think Investments, Havells
, an interior designing startup, raised Rs 75 crore ($10 million) in Series B round from Think Investments, a private investment firm and Havells Group. Emerge capital also participated in the round.
The startup was founded in 2017 by Yash Kela to make home design easier and accessible for Indian customers. It allows users to customise their home or office by sharing their design ideas and requirements with designers, and get the furniture delivered within 45 days.
It uses tech to integrate experience centres, design partners, logistics, production, and financing, to make interior design easy and affordable for homeowners.
The company said it will use the funds to expand its “Made By You” design process and its digitally-integrated supply chain. It will also invest in intelligent 4.0 manufacturing processes, an onsite renovation platform, and create more private labels.
The Mumbai-headquartered startup’s platform allows end-to-end custom interior design solutions from demand mapping to installation supported by in-house technology.
With 35 stores in 19 cities, the startup through its platform has been able to create and design more than 12000 spaces with the help of its 275+ designers.
“At Arrivae, we are still in the early stages of our journey to become the consumer's most trusted and recognised home design platform,” founder Yash said.
“I believe in the enormous magnitude of the possibility; the value transfers from unorganised onsite labour to organised custom-made factory finish deliveries, the integrated supply chain defensibilities, and the prospect of fixing a customer's inefficiencies of time, money, and inconveniences," he added.
The startup is backed by investor Rakesh Jhunjhunwala, the Enam family, Siddharth Yog of Xander Group, Anand Jain of Jai Corp, Harsh Jain of Dream 11, Ramesh S. Damani of DMart, and Harish Shah of Signet.
“The home improvement industry is evolving into one of the most profitable markets in India, especially post the pandemic. Arrivae has managed to establish a niche in this space, focusing on building a digitally integrated supply chain, venturing into the home styling services, and organising the onsite renovation services. Through this investment, we want to be a part of their growth journey, ” spokesperson of Think Investments said in a release.