Arrivae, a made-to-order furniture manufacturer and home improvement company, has raised an additional Rs 50 crore in Series-A funding round, led by Havells Group. The funding round also witnessed the participation of Emerge Capital and the existing investors, said a statement from Arrivae, a platform backed by ace investor Rakesh Jhunjhunwala.
Recently, the company raised Rs 50 crore from Jhunjhunwala along with Enam family, Siddharth Yog (founder, Xander Group), Anand Jain (chairman, Jai Corp), Harsh Jain (founder, Dream 11) and Ramesh S Damani (chairman, DMart). Arrivae planned to utilise the funds for its ‘Made By You’ design process, digitally integrated supply chain, intelligent 4.0 manufacturing process, onsite renovation platform and creating more private labels.
“The proceeds from the latest infusion of funds will be used to intensify its existing road map,” said Arrivae, which was established in 2017. With its proven track record of delivering remarkable projects and building scale across 19 cities through 35 stores, the platform has successfully created over 12,000 spaces with the help of its over 275 designers.
Havells Group Chairman Anil Rai Gupta said, “As the large four lakh crore fragmented global home improvement space sees a value shift from unorganised to organised, there is a great opportunity but not without its unique challenges.” In this context, Arrivae stands out in both how they have built an integrated supply chain while solving the problem of design variety for the consumer and the capital efficiency of their model, he added.
Arrivae founder Yash Kela said, “Partnerships are core to us at Arrivae and strengthen our brand trust in the ecosystem, particularly for the consumers. We are excited and grateful to have QRG holdings and Havells group as part of this journey.”