The funding round also witnessed the participation of Emerge Capital and existing investors. Apart from investing, Sahil Jain from Emerge Capital was also an advisor to the transaction.
Arrivae, India’s first made-to-order furniture manufacturer and home improvement company backed by the business magnate has raised an additional INR 50 crores in series B round led by Havells Group. The funding round also witnessed the participation of Emerge Capital and existing investors. Apart from investing, Sahil Jain from Emerge Capital was also an advisor to the transaction.
Arrivae was established in 2017 to empower and democratise home design to make it accessible and affordable. With its proven track record of delivering remarkable projects and building scale across 19 cities through 35 stores, the platform has successfully created 12000+ spaces with the help of its 275+ designers.
Driven by its vision to position itself as a one-stop home improvement ecosystem Pan-India, the platform recently raised INR 50 crores 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). Arrivae planned to utilise 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.
Proceeds from the latest infusion of funds will be used to intensify its existing roadmap.
Commenting on the fund raising, Yash Kela said, ‘At Arrivae, we are still in the early stages of our roadmap to become the most trusted and admired home design platform for the consumer. I believe in the massive size of the opportunity; the value shift from unorganized onsite work to organised custom-made factory finish deliveries, the integrated supply chain defensibilities and the prospect of solving the inefficiencies of time, cost and hassles faced by a customer.“
“Partnerships are core to us at Arrivae and strengthen our brand trust in the ecosystem, particularly for the consumers. We are excited and grateful to have QRG holdings and Havells group as part of this journey. I am confident that with their deep insight and ecosystem, Arrivae will achieve tremendous value and can potentially evolve as a new age distribution channel for them,” added Yash.
Anil Rai Gupta, Chairman, Havells Group said, “As the large 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. In this context, Arrivae stands out in both how they have built an integrated supply chain while solving the problem of design variety for the consumer, and the capital efficiency of their model.”
The ‘Made by You’ experience offered by Arrivae provides end-to-end custom interior design solutions from demand mapping to installation supported by in-house technology. It follows a data-driven manufacturing process, interconnected system, and efficient procurement with minimum manual intervention to make home improvement more accessible with minimum wastage, at the right price, and delivered within 45 days.
Source: Business World
