PharmEasy founders launch home improvement venture All Home, raise seed round at $120M valuation
PharmEasy founders Dharmil Sheth, Dhaval Shah, and Hardik Dedhia have launched a one-stop shop for home improvement needs.
Dharmil Sheth, Dhaval Shah, and Hardik Dedhia, the founders of online pharmacy startup PharmEasy, have launched All Home, an interior design and home improvement venture.
The platform aims to be a one-stop shop for all interior needs by partnering with omnichannel brands. It seeks to organise the fragmented segments in the interior decor and architecture industry, across categories such as furniture, kitchen, wardrobes, furnishings, lights, sanitaryware, and home hardware.
All Home has raised an undisclosed investment in a seed round led by d by Bessemer Venture Partners, at a valuation of over $120 million.
The round also saw participation from angel investors including PharmEasy's Siddharth Shah, Motilal Oswal's Niket Shah and Shalibhadra Shah, along with B Capital's Kabir Narang, and Ankur Gulati from Warburg Pincus.
The development was first reported by The Economic Times, which said that the company has raised $20 million in equity and debt, citing sources.
“The home infrastructure and interior design sector in India is at a pivotal inflection point, driven by rising aspirations and disposable incomes across the country. Despite its size, the market remains highly fragmented and underserved, with consumers and designers facing persistent challenges around quality, transparency, and efficiency," said Anant Vidur Puri, Partner at Bessemer Venture Partners, in a statement.
All Home seeks to provide consumers access to innovative products at competitive prices. It plans to solve challenges in the procurement process—including need for designers to coordinate with multiple vendors, prolonged turnaround times, lack of design cohesion, and insufficient after-sales support.
The platform is already operational, and the company claims to have achieved operational profitability after operating in stealth mode for the past six months.
Dharmil Sheth, Dhaval Shah, Harsh Parekh and Hardik Dedhia left the digital healthcare platform API Holdings, the parent company of PharmEasy, in January this year.
Their departure came after PharmEasy raised $216 million in April 2024 at a huge discount. The company managed to secure $216 million from Ranjan Pai's Manipal Education and Medical Group and existing investors Prosus, Temasek, and 360 One, after a 90% cut to its valuation.
Edited by Swetha Kannan