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Arrivae, a design-to-manufacture home improvement company, has secured INR 21 crore in fresh funding. This investment round was led by Mithun Sacheti, founder of CaratLane. The funds will be used to strengthen Arrivae's presence in its existing markets and improve its supply chain efficiency.
Currently operating with 11 stores across Mumbai, Hyderabad, Gurugram, and Bengaluru, Arrivae plans to expand further within these key cities. The company may also explore strategic expansion into new markets, though details haven't been revealed yet. "Our goal is to become more accessible to homeowners in our current locations," said Raghav Bubna, Arrivae's business head.
Arrivae caters to a wide range of home improvement projects, from smaller kitchen renovations starting around INR 75,000 to complete home makeovers exceeding INR 3 crore. Typically, these projects represent an investment of 8-10% of a home's value, according to Bubna. The company offers a comprehensive solution, handling design, manufacturing, and installation for its customers. They boast a vast catalogue with over 1 million design elements for homeowners to personalise their spaces.
With this investment, Mithun Sacheti will join Arrivae's board of directors. The existing board already includes Raghav Bubna, founder Yash Kela, and Madhusudhan Kela of MK Ventures. Arrivae's investor list is impressive, including prominent figures like Rekha Jhunjhunwala, Dream11's Harsh Jain, DMart's Ramesh Damani, and various venture capital firms. This strong financial backing positions Arrivae for continued growth in the home improvement sector.
This investment is particularly noteworthy because of Mithun Sacheti's background. He is not only the founder of CaratLane, a successful jewellery brand but also a partner at Singularity Growth, a venture capital firm focused on technology startups. Sacheti's experience in both retail and investment adds valuable expertise to Arrivae's leadership team.
Arrivae's funding and focus on market penetration position them well to capitalise on the growing demand for convenient and customised home improvement solutions in India. With a strong leadership team, a vast product catalogue, and a growing network of stores, Arrivae is poised to make a significant impact in the home renovation market, offering homeowners a one-stop shop for their improvement needs at various budget points.
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