Home improvement startup Arrivae raises Rs 21Cr led by CaratLane founder Mithun Sacheti

Home improvement and furniture manufacturing startup Arrivae has raised Rs 21 crore in an equity funding round led by Mithun Sacheti, founder of CaratLane. 

The funding follows a significant Series B investment round in February 2023, where the company raised Rs 75 crore from various investors, including Think Investments and Havells Group.

Expansion and market strategy

Founded in 2018 by Yash Kela, Arrivae plans to use the new funds to deepen its presence in the existing markets of Mumbai, Hyderabad, Gurugram, and Bengaluru, where it currently operates 11 stores. 

Mithun Sacheti said, "The home improvement industry is rapidly becoming one of India's most lucrative markets, involving deep engagement and emotions from consumers. With one of the largest design libraries in the sector, Arrivae's #HoJayega sentiment, enabled by its integrated supply chain model and distribution for home improvement play, taking it closer to the consumer makes them well positioned to solve this problem for the consumers."

Mithun Sacheti joins Arrivae board of directors

With the recent investment, Mithun Sacheti will join the Arrivae board of directors. The board already includes notable figures such as Yash Kela, founder of Arrivae, and Madhusudhan Kela of MK Ventures.

Sacheti and Yash Kela have prior working relationships through Singularity Growth, an investment firm where Sacheti serves as a general partner and Kela as the chief investment officer.

Company vision and customer engagement

Arrivae emphasizes its commitment to democratizing design by making it accessible and affordable. The startup offers a vast catalogue of over a million design elements and aims to seamlessly integrate these into customers' ideas and dreams. 

Future outlook and industry position

Arrivae is positioning itself to be a leader in the home improvement sector with one of the largest design libraries and a robust supply chain model. The projects offered by Arrivae can vary significantly in cost, catering to diverse customer needs, from modest kitchen renovations to extensive, high-value projects.

The startup's business model, which includes personalized home and office design services with European-inspired designs, aims to enhance customer experience significantly.