Summary:

  • Vaaree is a home furnishing and decor startup,

  • The round is led by Capier Investments

  • Vaaree was established in 2022 by Garima Luthra, Pranav Arora, and Varun Vohra.

Vaaree, a home furnishing and decor startup, has successfully raised Rs 20.78 crore ($2.5 million) in a pre-Series A funding round. This round was led by Capier Investments, with significant participation from Peak XV’s Surge Ventures.

According to regulatory filings accessed through the Registrar of Companies, Vaaree’s board approved a special resolution to issue 3,063 pre-Series A CCPS (Compulsorily Convertible Preference Shares) at an issue price of Rs 67,856 each, thereby raising Rs 20.78 crore ($2.5 million). Contribution from Capier Investments is Rs 12.47 crore, and Surge Ventures contributed Rs 8.31 crore. The company anticipates additional funding in this round.

To date, Vaaree has raised around $7 million, including a $4 million seed round in September last year. This seed round was led by Peak XV’s Surge Ventures and included contributions from Vistra, Better Capital, Capier Investments, and All in Capital.

Vaaree was established in 2022 by Garima Luthra, Pranav Arora, and Varun Vohra. The company specializes in a broad range of home decor categories, such as furnishing, kitchen, decor, bath, and garden products.

Vaaree was part of the eighth cohort of Surge’s accelerator program. The startup also attracted investment from several angel investors, including notable names like Kunal Shah, Arjun Vaidya, Vineeta Singh, Ghazal Alagh, Varun Dua, Manish Dugar, Anjali Bansal, Suhail Sameer, and Ruchi Deepak.

In its inaugural fiscal year (FY23), Vaaree recorded a revenue from operations of Rs 1.91 crore. However, the company also reported a loss of Rs 3.5 crore for the same period. Financial results for FY24 have not yet been filed.

 

Vaaree operates in a competitive market, with well-funded startups like Livspace, HomeLane, and Furlenco leading the home decor space. Additionally, early-stage companies such as DecorTwist, Sunday Design, and KraftInn have also secured funding in recent years, reflecting the vibrant and growing interest in the home decor sector.