The new round of funding will enable Vaaree to grow its team and invest in platform development
Bengaluru: Home furnishings and decor retailer Vaaree has raised $4 million in seed funding led by Surge, Peak XV’s (formerly Sequoia Capital India and SEA) rapid scale-up program, which included participation from PeerCapital, All In Capital, and Better Capital, the company said in a press release on Tuesday.
The new funding will accelerate investments in hiring and enhancing user experience for its online platform.
“With the infusion of this latest round of funding, we’re set to catalyse growth across various fronts — from expanding our team to investments in cutting-edge technology and AI applications. This will bolster critical areas including curation, merchandising, supply chains, seamless omnichannel experiences, and unwavering support for countless households nationwide,” said Varun Vohra, co-founder of Vaaree.
The company also raised a pre-seed round in early 2022, backed by angel investors like Kunal Shah, Arjun Vaidya, Vineeta Singh, Ghazal Alagh, Varun Dua, Manish Dugar, Anjali Bansal, Suhail Sameer, Prabhu Rangarajan, Mohan K and Ruchi Deepak.
Based in Bengaluru, Vaaree was founded in February 2022 by Garima Luthra, Pranav Arora, and Vohra. Within a year of launching its online operations in May 2022, Vaaree’s offering grew to over 20,000 products. It claims to have delivered more than 150,000 products to homes across India.
The company launched its first retail store in Bengaluru, Forum South Mall, this October. The store offers over 2,000 products ranging from kitchenware to bedding and it currently features curated lifestyle looks that change each week.