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GTM Buddy, Garden of Joy get funding; CaratLane founder Sacheti backs Arrivae
VCCircle
·
1y ago
Medial
GTM Buddy, Arrivae, and Garden of Joy have all secured funding in recent announcements. AI-based sales platform GTM Buddy raised $8 million in a Series A funding round, while home interior solutions startup Arrivae raised $2.5 million from CaratLane's founder Mithun Sacheti. Landscaping startup Garden of Joy secured Rs 84 lakh in a seed funding round. These funds will be used to expand operations, develop technology, and vertically integrate the businesses.
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Arrivae Bags INR 21 Cr From Mithun Sacheti
Inc42
·
1y ago
Medial
Arrivae, an interior design solutions startup, has raised INR 21 crore (approximately $2.5 million) in an extended Series B funding round from Mithun Sacheti, co-founder of CaratLane. The funds will be used to expand distribution, penetrate existing markets, and strengthen the supply chain. Sacheti has also joined the board of Arrivae, which already includes investors Madhusudhan Kela, Yash Kela, and Raghav Bubna. Arrivae offers end-to-end home interiors solutions and has a catalog of over one million products. The Indian home decor market is projected to reach $67.4 billion by 2032.
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Home improvement firm Arrivae raises Rs 21 crore in funding
Economic Times
·
1y ago
Medial
Mumbai-based home improvement firm Arrivae has secured ₹21 crore ($2.8 million) in an equity round led by Mithun Sacheti, founder of CaratLane. The funds will be used to expand further into existing markets, improve the supply chain, and potentially enter new markets. Arrivae offers end-to-end home interior design and manufacturing services and counts over a million elements in its catalogue. This investment will bring Sacheti onto the board of directors at Arrivae. The firm had previously raised ₹75 crore ($10 million) in funding from Think Investments, Havells Group, and others in February 2022.
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Home improvement startup Arrivae raises Rs 21Cr led by CaratLane founder Mithun Sacheti
IndianStartupNews
·
1y ago
Medial
Indian home improvement startup Arrivae has raised $3 million in equity funding in a round led by Mithun Sacheti, founder of CaratLane. The funds will be used to expand the company's presence in Mumbai, Hyderabad, Gurugram, and Bengaluru. Arrivae, founded in 2018, aims to democratize design by offering affordable and accessible home improvement solutions. The startup provides a large catalogue of design elements and personalized services to enhance customer experience. With one of the largest design libraries in the sector, Arrivae is well-positioned to be a leader in the home improvement industry.
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Got Tiger Global's funding offer on LinkedIn, initially took it as scam: CaratLane's Sacheti
Inshorts
·
1y ago
Medial
Mithun Sacheti, the Founder of CaratLane, shared that Tiger Global reached out to his jewelry startup through LinkedIn, and at first, he suspected it might be a scam. Sacheti mentioned that Lee Fixel, a former Partner at Tiger Global, messaged him with the expression of interest in CaratLane, stating, "CaratLane is of interest to us. We'd love to talk to you." Sacheti humorously questioned who contacts you with an offer to provide funding in such a direct manner.
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IppoPay Pockets Funding From CaratLane Founder Mithun Sacheti, Others To Expand Its Fintech Play
Inc42
·
12m ago
Medial
IppoPay, a digital payment and banking solutions provider, has raised an undisclosed amount of funding from Mithun Sacheti, founder of CaratLane, and Siddhartha Sacheti, CEO of Jaipur Gems. The funding round resulted in an exit for Coinbase Ventures, an early backer of IppoPay. The company aims to support both offline and online businesses with its digital payment services.
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Jhunjhunwala said he'll respect us if CaratLane grows: Sacheti
YouTube
·
1y ago
Medial
Mithun Sacheti, the founder of CaratLane, remembered a conversation with the late veteran investor Rakesh Jhunjhunwala, who once told him that he would earn Jhunjhunwala's respect if he could successfully revive CaratLane and achieve the growth he aspired to. Sacheti mentioned that this conversation had a profound impact on him. Initially, Jhunjhunwala questioned why he would incur losses while attempting to sell jewelry.
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'Achieved one goal, have to achieve more': Life after CaratLane for Mithun Sacheti
Economic Times
·
1y ago
Medial
Mithun Sacheti, co-founder of CaratLane, has gained attention since the announcement of Titan's acquisition of his remaining stake in the company for Rs 4,621 crore ($635 million) in cash. While the spotlight is new to him, Sacheti says he always knew the value of the business.
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CaratLane founder Mithun Sacheti becomes co-sponsor and general partner at Singularity Growth
Economic Times
·
1y ago
Medial
Mithun Sacheti, the founder of CaratLane, has been appointed as the co-sponsor and general partner at Singularity Growth. Sacheti will bring his expertise in scaling businesses and building successful global brands to the venture capital firm, which focuses on investing in technology and consumer brands. This strategic partnership aims to drive growth and foster innovation in the startup ecosystem.
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Tata-owned jewellery firm CaratLane appoints Avnish Anand as chief executive
Economic Times
·
1y ago
Medial
Chennai-based jewelry company CaratLane has appointed Avnish Anand as its new CEO, following the departure of founder and former CEO Mithun Sacheti. Anand, who was previously the COO of the Tata Group-owned CaratLane, has been with the company for over 8 years. The move comes after Tata group company Titan acquired a further 27.18% stake in CaratLane. Titan now owns 98.28% of the firm. CaratLane has also challenged a show-cause notice from the Directorate of Enforcement alleging FDI rule violations. The company has been reporting positive profits and growth in revenue and stores.
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Our 1st store was terribly wrong, was all tech: CaratLane ex-CEO
YouTube
·
1y ago
Medial
Mithun Sacheti, the Co-founder and former CEO of CaratLane, admitted that the initial approach with the startup's first store was a significant misstep, as it was overly centered on technology and lacked a substantial jewelry inventory. He further acknowledged that the second store was also flawed due to architectural inadequacies for showcasing everyday jewelry. However, Sacheti emphasized that these challenges were eventually addressed and rectified with the opening of the third store.
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