The company plans to utilize the funds in strengthening its sales and marketing capabilities and introducing aesthetically pleasing décor products for both Indian and US markets.
Delhi NCR-based leading Home Decor and furnishing platform WallMantra raises INR 2 Crore from Fluid Ventures Fund in their seed round.
Founded by Jitesh Agarwal, Shivam Agarwal and Kundan Lal, WallMantra is a pioneer in manufacturing and selling supreme quality luxury home decor & furnishing products at an affordable price. With their motto of “Grace Every Space”, they have something to offer to every homemaker willing to beautify any space of their home. Ranges like Paintings, Mirrors, Smart Furniture, Curtains & Bedsheets continue to be their flagship products with much more coming up.
“With the outbreak of the Covid-19 pandemic, Home nesting became a necessity and due to this tremendous shift, consumers started investing in enhancing their new homebound lifestyle and this lifestyle has been a driving force for WallMantra, that has been doing a tremendous job in innovating and launching products based on the continuous consumer buying behaviour and this led to 90% of the sales comes from their own website”, says Amit Singal, Founding Partner, Fluid Ventures.
According to the Inc42 report, the Indian online home decor market is estimated to grow from USD 2.1Bn in 2020 to reach USD 5.4Bn by 2025, at a CAGR of 20.4%. The total addressable market for D2C brands is expected to reach USD 100Bn in 2025.
“WallMantra, as a brand, has always tried to excel in bringing our patrons the latest and greatest in home decor & furnishing. We are endeavouring into international markets as well as the furniture segment as we grow at a rapid pace. Partnership with Fluid Ventures is going to help the brand substantially on our path to growth”, says Jitesh Agarwal, CEO & Co-founder, WallMantra
According to the spokesman of the company, WallMantra sells over 10,000+ products every month from their website (wallmantra.com) and has a customer base of over 2,50,000 across the country with a repeat of 25% month on month. The company plans to utilize the funds in strengthening its sales and marketing capabilities and introducing aesthetically pleasing décor products for both Indian and US markets.
Source: Business World