Arrivae, a made-to-order furniture manufacturer and home improvement company, has closed its Series B funding round with $10 million (Rs 75 crore) led by Think Investments and Havells Group with participation from Emerge Capital and existing investors. Emerge Capital’s Sahil Jain served as a transaction advisor.
The platform has recently raised Rs 50 crore from business magnate Rakesh Jhunjhunwala along with Enam family, Siddharth Yog (Founder, Xander Group), Anand Jain (Chairman, Jai Corp), Harsh Jain (Founder, Dream 11) and Ramesh S. Damani (Chairman, DMart).
The startup was founded in 2017 by Yash Kela to make home design easier and accessible for Indian customers. It allows users to customize 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.
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Arrivae was established in 2017 and has presence across 19 cities through 35 stores. It has created over 12,000 spaces with the help of over 275 designers.
“Arrivae planned to utilize the funds for its ‘Made By You’ design process, digitally integrated supply chain, intelligent 4.0 manufacturing process, onsite renovation platform and creating more private labels,” it said.
Havells Group Chairman Anil Rai Gupta said, as the large Rs 4 lakh crore fragmented global home improvement space sees a value shift from unorganized to organized, there is obviously a great opportunity, but not without its own unique challenges.
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