Vaaree raises $4.6 million to scale home décor platform
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New investors Sattva Ventures and the Asian Paints family office also participated in the round, as per a statement from the company.
Founded in 2022, Vaaree operates a curated marketplace for home and soft furnishings, sourcing directly from export-grade factories and targeting Indian consumers with mid- to premium-priced décor. It had previously raised $4 million in seed funding led by Surge, with PeerCapital, All In Capital and Better Capital participating too, in November 2023.
The company plans to use the fresh capital to scale its AI-powered styling tool VibeCheck, expand its Fulfilment & Brand Verification (FBV) network to enable next-day delivery and deepen brand presence across metros and tier-2 cities.
Vaaree currently offers more than 80,000 SKUs across home décor, bed and bath, kitchenware, and lighting categories. The company says its factory-to-home model has helped it maintain a return rate below 5%.
'Launching AI-powered styling with VibeCheck, enabling next-day deliveries through our FBV network, and taking our brand deeper into India, this capital helps us go faster,' said Garima Luthra, co-founder at Vaaree.
PeerCapital Managing Partner Ankur Pahwa said the startup is 'building the rails for how India will shop for home in the future,' adding that the $15 billion soft furnishings and décor category is coming online rapidly.
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India's broader home and household market is projected to reach $237 billion by 2030, the statement added.
Luthra, an alumnus of Panjab University, has previously worked across startups such as Blinkit, Furlenco, Acko and Cred. Her co-founder Pranav Arora, also an alumnus of Punjab University, co-owned and ran Aaywon Lamitubes and Packaging Solutions for over a decade.
The third co-founder Varun Vohra, an alumnus of BITS Pilani, is a serial founder who has co-founded, scaled and sold two businesses – Aknamed, which was acquired by API Holdings in 2021 and Genii, acquired by Practo in 2015.
Past investors in Vaaree include Cred founder Kunal Shah, Dr. Vaidya's founder Arjun Vaidya, Sugar Cosmetics founder Vineeta Singh, Mamaearth co-founder Ghazal Alagh, Acko co-founder Varun Dua and Avaana Capital co-founder Anjali Bansal.
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