Supporting Shepreneur: Female-Led Startup Vaaree Gets Funding Fuel!

Great news from the home decor realm! Vaaree, a thriving startup spearheaded by Garima Luthra, recently secured a remarkable sum of Rs 20.78 crore ($2.5 million) in a pre-Series A funding round. Capier Investments led the investment charge, closely followed by Peak XV’s Surge Ventures.

Vaaree Funding

The company's regulatory filings accessed through the Registrar of Companies reveal that Vaaree's board unanimously passed a special resolution to issue 3,063 pre-Series A CCPS at an issue price of Rs 67,856 each, successfully raising the hefty sum.

Capier Investments injected Rs 12.47 crore into the venture, with Surge Ventures contributing an additional Rs 8.31 crore. And the good news doesn't stop there; Vaaree is poised to attract even more funds in the ongoing round.

Vaaree Valuation

According to estimations by TheKredible, Vaaree now boasts a valuation of approximately Rs 180 crore ($21.6 million) post-money, solidifying its position in the market.

This latest injection of funds adds to Vaaree's already impressive financial track record, having raised approximately $7 million to date. Their journey started in 2022, with Garima Luthra, Pranav Arora, and Varun Vohra at the helm. Since then, Vaaree has been making waves in the home decor landscape, offering a diverse array of products ranging from furnishings to kitchenware, decor, bath essentials, and even garden adornments.

Notably, Vaaree was part of the esteemed eighth cohort of Surge’s accelerator program, a testament to its potential for growth. The startup also received backing from prominent figures such as Kunal Shah, Arjun Vaidya, Vineeta Singh, Ghazal Alagh, Varun Dua, Manish Dugar, Anjali Bansal, Suhail Sameer, and Ruchi Deepak, among others.

Despite being in its early stages, Vaaree has shown promising revenue figures, recording Rs 1.91 crore in revenue during its first fiscal year (FY23). However, like many startups, it also reported a loss of Rs 3.5 crore in the same period. As of now, the company is yet to disclose its financial results for FY24, keeping investors and stakeholders eagerly awaiting.

In a space dominated by big players like Livspace, HomeLane, and Furlenco, Vaaree's success story stands out. Moreover, with the emergence of other promising startups like DecorTwist, Sunday Design, and KraftInn, the home decor landscape promises to be even more vibrant and competitive.

To delve deeper into Vaaree's journey and learn more about their innovative approach to home decor, be sure to check out the exclusive interview with Garima Luthra available in this insightful video.