Business Standard

Arrivae raises Rs 75 crore in funding from Think Investments, Havells Group

The Series B funding round also saw participation from Emerge Capital and existing investors, Arrivae, backed by ace investor Rakesh Jhunjhunwala said in a statement

Photo: Unsplash/Markus Winkler

Photo: Unsplash/Markus Winkler

Press Trust of India New Delhi
Arrivae, a made-to-order furniture manufacturer and home improvement company, on Wednesday said it has raised Rs 75 crore in funding from Think Investments and Havells Group.
The Series B funding round also saw participation from Emerge Capital and existing investors, Arrivae, backed by ace investor Rakesh Jhunjhunwala said in a statement.
Proceeds from the latest infusion of funds will be used to intensify its existing roadmap, it added.
The platform has recently raised Rs 50 crore from business magnate Rakesh 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," it said.
Havells Group Chairman Anil Rai Gupta said, as the large Rs 4 lakh crore fragmented global home improvement space sees a value shift from unorganized to organized, there is obviously a great opportunity, but not without its own 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,Gupta said.
Under 'Made by You', Arrivae provides end-to-end custom interior design solutions from demand mapping to installation supported by in-house technology.
It follows a data-driven manufacturing process of interconnected system, and efficient procurement with minimum manual intervention to make home improvement more accessible with minimum wastage, at the right price, and delivered within 45 days.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 23 2022 | 11:58 PM IST

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