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Exclusive: Home decor startup Vaaree kicks off new round

EntrackrEntrackr · 1y ago
Exclusive: Home decor startup Vaaree kicks off new round
Medial

Home Furnishing & Decor Startup Vaaree has raised Rs 20.78 crore ($2.5 million) in a pre-Series A round led by Capier Investments with the participation of Peak XV’s Surge Ventures. The board at Vaaree has passed a special resolution to issue 3,063 pre-series A CCPS at an issue price of Rs 67,856 each to raise Rs 20.78 crore or $2.5 million, its regulatory filing accessed through Registrar of Companies shows. Capier Investments pumped in Rs 12.47 crore while Surge Ventures contributed Rs 8.31 crore in the pre-series A. The company is likely to get more funds in the same round. As per TheKredible’s estimate, the company is valued at around Rs 180 crore ($21.6 million) post-money. Vaaree has raised around $7 million to date including a $4 million seed money led by Peak XV’s Surge Ventures and with the participation of Vistra, Better Capital, Capier Investments, and All in Capital in September last year. Founded in 2022 by Garima Luthra, Pranav Arora, and Varun Vohra, Vaaree caters to home decor across categories including furnishing, kitchen, decor, bath, and garden. Vaaree was a part of the eighth cohort of Surge’s accelerator program and it also raised funds from angels such as Kunal Shah, Arjun Vaidya, Vineeta Singh, Ghazal Alagh, Varun Dua, Manish Dugar, Anjali Bansal, Suhail Sameer, and Ruchi Deepak, among others. In its first fiscal year (FY23), Vaaree’s revenue from operations was recorded at Rs 1.91 crore while the loss of the firm stood at Rs 3.5 crore in the same period. The company is yet to file its financial results for FY24. Livspace, HomeLane and Furlenco are the top notch funded startups in the home decor space. Early stage companies such as DecorTwist, Sunday Design, and KraftInn, among others, also raised funds in the past couple of years.

Exclusive: Fintech startup CheQ closes new round at $6.7 Mn

EntrackrEntrackr · 1y ago
Exclusive: Fintech startup CheQ closes new round at $6.7 Mn
Medial

Credit card bill payment management platform CheQ has secured Rs 18.5 crore (around $2.2 million) additional proceeds in its extended seed round. This is the second tranche of the round for the Bengaluru-based company. The new tranche came after a month of its $4.5 million extended series round. Entrackr was the first to report the development last month. The board at CheQ has passed a resolution to allot 6,855 Seed 1 CCPS at an issue price of Rs 26,988.91 each to raise Rs 18.50 crore, its regulatory filings accessed from the RoC shows. Lloyd Dizon and Zenaida Dizon Balajadia invested Rs 4.16 crore each while Sherpalo LLC (a venture by Ram Shriram), Hitesh Gupta, and Amit Lakhotia participated with Rs 8.32 crore, 10 lakhs, and 25 lakhs respectively. As per filings, the company will use these funds for growth, expansion, marketing, and general corporate purposes as decided by the board. According to startup data intelligence platform TheKredible, the company has been valued at around Rs 460 crore or $55.4 million (post-money) after the fresh tranche of the extended seed round. Founded in 2022 by Aditya Soni, CheQ helps customers simplify the discovery and management of all credit products and allows you to pay your credit card bill, and EMI on a single platform. The startup has raised over $17 million to date including its $10 million seed round led by Venture Highway and 3one4 Capital in June 2022. CheQ remained a pre-revenue stage firm with a revenue of only Rs 2 crore during the fiscal year ended March 2023. However, the losses for the three-year-old firm stood at Rs 19.4 crore in the same period. CheQ competes with fintech unicorn CRED which has secured around $1 billion to date and was valued at $6.4 billion in its last fundraise. According to the startup data intelligence platform TheKredible, it posted Rs 1,400 crore in revenue with a loss of Rs 1,347 crore during FY23.

Exclusive: Wify bags $2 million in pre-Series A round

EntrackrEntrackr · 1y ago
Exclusive: Wify bags $2 million in pre-Series A round
Medial

Construction and home improvement platform Wify has raised Rs 17.5 crore or $2.1 million in its pre-series A round led by Capria Ventures. This is the first round of investment for the Mumbai-based company this year. The board at Wify has passed a special resolution to issue 30,455 pre-series A CCPS at an issue price of Rs 5,747 each to raise Rs 17.5 crore, its regulatory filing accessed from RoC shows. Capria Ventures has poured Rs 8 crore while Duo Design and Optimistic Trading company pumped in Rs 3 crore and RS 1.5 crore, respectively. Existing investors Blume Ventures and Singularity Growth also participated with Rs 2 crore and Rs 3 crore each in the Pre Series A round.. Wify has secured $2 million in its last seed round in July 2022. According to the startup data intelligence platform TheKredible, the company has been valued at around Rs 128 crore (post-money) in its maiden financing round.. Founded in 2019 by Vikram Sharm and Deepanshu Goel, Wify is in the business of on-site installation and post-purchase services to businesses and brands. The four-year-old firm registered over two-fold year-on-year growth and posted Rs 24.47 crore revenue in FY23. Meanwhile, the losses for Wify stood at Rs 5.65 crore in the same period.

Exclusive: EyeMyEye raises $2.5 Mn in a new tranche

EntrackrEntrackr · 1y ago
Exclusive: EyeMyEye raises $2.5 Mn in a new tranche
Medial

Full-stack eyewear platform EyeMyEye has raised Rs 20.8 crore (approximately $2.5 million) in a new tranche as part of its pre-series A round. The board at EyeMyEye has passed a special resolution to issue 14,44,847 pre-Series A CCPS at an issue price of Rs 143.96 each to raise Rs 20.8 crore, its regulatory filing sourced from RoC shows. RBA Finance & Investments and Ashish Ramesh Kacholia pumped in Rs 10 crore each while Sachin Shah participated with Rs 80 lakh. Following the fresh proceeds, RBA Finance and Ashish Kancholia will hold 6.22% each of the company. EyeMyEye will use these proceeds to operate the business, achieving the pre-defined milestones, and in the manner envisaged in the shareholder’s agreement, the filing added. According to the startup data intelligence platform TheKredible, the company has been valued at around Rs 162 crore or $20 million (post-money). Founded in 2021 by Ganesh Iyer, EyeMyEye offers a range of customized eyeglasses, sunglasses, and other eyewear-related products to consumers through its online and offline channels. EyeMyEye has raised around Rs 90 crore ($11 million) to date including a $5 million round led by LC Nueva AIF in August 2022. Entrackr had exclusively reported the development. EyeMyEye registered 34% year-on-year growth to Rs 32.45 crore during FY23. Moreover, the company’s losses remained steady at Rs 19.36 crore during the same period. It competes with the likes of Lenskart, ClearDekho, Cool Winks and Lens2Home, among others.

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