Home Furnishing & Decor startup Vaaree raises $2.5M in a pre-Series A round: Report

Home Furnishing & Decor startup Vaaree has raised Rs 20.78 crore ($2.5 million) in a pre-Series A funding round. 

The round was led by Capier Investments, which contributed Rs 12.47 crore, and was also supported by Peak XV’s Surge Ventures, which invested Rs 8.31 crore. 

At what valuation?

Post-money, Vaaree is valued at approximately Rs 180 crore ($21.6 million), as estimated by TheKredible. The recent funding round brings Vaaree’s total funding to around $7 million.

This includes a $4 million seed round raised in September last year, which was also led by Peak XV’s Surge Ventures, with participation from Vistra, Better Capital, Capier Investments, and All in Capital.

What does Varee do?

Founded in 2022 by Garima Luthra, Pranav Arora, and Varun Vohra, Vaaree offers a wide range of products across various categories, including furnishing, kitchen items, decor pieces, bath accessories, and garden products.

The startup aims to cater to diverse consumer preferences with its extensive portfolio.

How well Varee is performing financially? 

Despite its potential for rapid growth, Vaaree's financial journey has faced challenges. In its first fiscal year (FY23), Vaaree reported revenues of Rs 1.91 crore but also incurred losses amounting to Rs 3.5 crore.