Home furnishing and decor startup Vaaree has successfully raised Rs 20.78 crore ($2.5 million) in a pre-Series A funding round. Capier Investments spearheaded the round, which also included significant contributions from Peak XV’s Surge Ventures.
According to regulatory filings accessed through the Registrar of Companies, the board at Vaaree approved a special resolution to issue 3,063 pre-series A CCPS at an issue price of Rs 67,856 each, thereby raising the total of Rs 20.78 crore ($2.5 million). Capier Investments led the funding with Rs 12.47 crore, while Surge Ventures added Rs 8.31 crore. Additional funding is anticipated in the same round.
This recent infusion of capital brings Vaaree’s total fundraising to approximately $7 million. This includes a $4 million seed round led by Peak XV’s Surge Ventures in September of the previous year, with participation from Vistra, Better Capital, Capier Investments, and All in Capital.
Vaaree, founded in 2022 by Garima Luthra, Pranav Arora, and Varun Vohra, offers a wide range of home decor products spanning various categories such as furnishing, kitchen, decor, bath, and garden. The startup was part of the eighth cohort of Surge’s accelerator program and has also attracted investments from notable angels including Kunal Shah, Arjun Vaidya, Vineeta Singh, Ghazal Alagh, Varun Dua, Manish Dugar, Anjali Bansal, Suhail Sameer, and Ruchi Deepak, among others.
In its inaugural fiscal year (FY23), Vaaree reported revenues of Rs 1.91 crore, with a loss of Rs 3.5 crore. The financial results for FY24 have yet to be disclosed.
The home decor sector is highly competitive, with well-funded startups such as Livspace, HomeLane, and Furlenco leading the market. Early-stage companies like DecorTwist, Sunday Design, and KraftInn have also successfully raised funds in recent years, indicating a robust investment interest in this space. Vaaree’s latest funding round underscores the continued confidence investors have in the growth potential of home decor startups.
