This report covers Vaaree’s seed-funding announcement and the plans described at that time. Company figures, forecasts, and expansion plans below refer to that announcement period.
Vaaree, a home furnishings, decor, and accessories marketplace, raised $4 million in seed funding led by Surge, Peak XV Partners’ rapid scale-up program. The round also saw participation from PeerCapital, All In Capital, and Better Capital.
The new funding would support investments in hiring and enhancing the user experience for its online platform, Vaaree said in a press release.
Founded in February 2022 by Garima Luthra, Pranav Arora, and Varun Vohra, Vaaree said it worked with individually vetted manufacturers and described its quality-assurance processes in the announcement.
The company launched its first retail store in Bengaluru at Forum South Bangalore Mall that October. The announcement said the store offered more than 2,000 products, including kitchenware and bedding.
Within a year of launching its online operations in May 2022, Vaaree said its offering had grown to more than 20,000 products and that it had delivered more than 150,000 products to homes across India.
The firm had raised a pre-seed round in early 2022, backed by angels including Kunal Shah, Arjun Vaidya, Vineeta Singh, Ghazal Alagh, Varun Dua, Manish Dugar, Anjali Bansal, Suhail Sameer, Prabhu Rangarajan, Mohan K, and Ruchi Deepak.
Vaaree was part of the eighth cohort of Surge.
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