Total amount raised
₹1.5 Billion
Latest funding date
04/01/2024
Location
Arrivae has successfully raised funds through three Series B rounds, attracting a total of ten investors, including Mithun Sacheti and Havells India. The company specializes in providing furniture and interior design solutions for both residential and commercial spaces.
Keep reading to explore the intricacies of Arrivae's fundraising journey and the investors backing this innovative platform.
What Is Arrivae?
Arrivae is a private company based in Mumbai, Maharashtra, India, specializing in furniture and interior design solutions for both residential and commercial spaces. The company operates in the industries of furniture, home services, and interior design.
Founded in an unspecified year, Arrivae has grown to employ between 251 and 500 people. The company has successfully raised funds through Series B rounds, demonstrating its growth and potential in the market.
How Much Funding Has Arrivae Raised?
- Series A
- Amount Raised: INR 500,000,000 (approximately $6.7 million)
- Date: October 2021
- Lead Investors: Rakesh Jhunjhunwala
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance product offerings.
- Series B
- Amount Raised: INR 750,000,000 (approximately $10 million)
- Date: December 2021
- Lead Investors: Havells India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and strengthen market presence.
- Series B
- Amount Raised: INR 210,000,000 (approximately $2.5 million)
- Date: April 2024
- Lead Investors: Mithun Sacheti
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To deepen market penetration and strengthen the supply chain.
Total Amount Raised: $19.2 million. Current Valuation: Not publicly disclosed.
Key Investors
- Mithun Sacheti
- Details: Mithun Sacheti is the co-founder of CaratLane, a prominent jewelry retail company. He is also a general partner at Singularity Growth.
- Investment Focus Areas: Jewelry, retail, consumer sectors.
- Notable Investments: CaratLane, significant LP in Flipkart founder Binny Bansal's early-stage venture fund 021 Capital.
- Havells India
- Details: Havells India is a major Indian electrical equipment company. It specializes in manufacturing a wide range of electrical products.
- Investment Focus Areas: Electrical equipment, consumer electronics, technology.
- Notable Investments: Electrical equipment and consumer goods sectors.
- Rakesh Jhunjhunwala
- Details: Rakesh Jhunjhunwala was a renowned Indian investor and trader. He was often referred to as the "Warren Buffett of India."
- Investment Focus Areas: High-growth companies, diverse sectors.
- Notable Investments: Various high-profile investments in the Indian stock market.
- Think Investments
- Details: Think Investments is a global investment firm that focuses on long-term investments in public and private companies. It is known for its strategic and diversified investment approach.
- Investment Focus Areas: Technology, consumer services, high-growth companies.
- Notable Investments: Various technology and consumer service companies.
- Harsh Jain
- Details: Harsh Jain is the co-founder and CEO of Dream11, a leading fantasy sports platform in India. He is a prominent figure in the sports-tech industry.
- Investment Focus Areas: Technology, sports-related startups.
- Notable Investments: Dream11.
What's Next for Arrivae?
Arrivae stands at the cusp of significant growth opportunities, driven by the burgeoning demand for professional home decor solutions in India. With the home decor market projected to reach $67.4 billion by 2032, Arrivae is well-positioned to capitalize on this trend by expanding its distribution channels and deepening its market penetration. The recent funding round led by Mithun Sacheti will further bolster its supply chain and operational capabilities.
Future fundraising opportunities appear promising, given the company's successful track record in securing investments from high-profile backers. As Arrivae continues to demonstrate market penetration and revenue growth, it is likely to attract additional funding to support its expansion into new markets and enhance its service offerings. However, the company must navigate challenges such as competition from other firms, managing supply chain complexities, and maintaining service quality as it scales operations.
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