Arrivae, India’s first made-to-order furniture manufacturer and home improvement company, raised INR 50 crores in the first external round led by business magnate Rakesh Jhunjhunwala. The funding round also witnessed the participation of other investors across retail, real estate and capital markets, including Enam family, Siddharth Yog (Founder, Xander Group), Anand Jain (Chairman, Jai Corp), Harsh Jain (Founder, Dream 11) and Ramesh S. Damani (Chairman, DMart).
Founded in December 2017 by Yash Kela, a former real-estate housing finance professional and venture capitalist, Arrivae was established to empower and democratise home design to make it accessible and affordable. The digitally integrated platform offers a ‘Made by You’ experience by providing end-to-end custom interior design solutions from demand mapping to installation supported by in-house technology. It follows a data-driven manufacturing process, 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.
The latest infusion of funds by Mr. Jhunjhunwala, India’s 48th richest man, who was recently remarked as ‘Lively, insightful and very bullish on India’ on Prime Minister Narendra Modi’s recent tweet, will be utilised by Arrivae it’s “Made By You” design process, digitally integrated supply chain, intelligent 4.0 manufacturing process, on-site renovation platform and creating more private labels.
Commenting on the fund raising, Yash Kela said, ‘At Arrivae, we are still in the early stages of our roadmap to become a leading, full home improvement ecosystem in India, which enables “Ghar Banao to Ghar Sajao ” for the consumer. I believe in the massive size of the opportunity- the value shift from unorganised on-site work to organised custom made factory finish deliveries, the integrated supply chain defensibilities and the prospect of solving the inefficiencies of time, cost and hassles that a customer faces.”
“Partnerships are core to us at Arrivae and strengthen our brand trust in the ecosystem, particularly for the consumers. All the veterans who have participated in this round would enable more trust in the Arrivae brand. I, along with my team, are extremely grateful to have them as part of our journey,” added Yash.