Home improvement firm Arrivae has raised Rs 21 crore from CaratLane founder Mithun Sacheti in an equity round. With this investment, Sacheti is set to join the board of directors at Arrivae.
The firm, founded in 2018 by Yash Kela, will use the funds to go deeper into existing markets and strengthen its supply chain. Arrivae is present in Mumbai, Hyderabad, Gurugram and Bengaluru, and runs 11 stores in these cities. Arrivae provides end-to-end, design-to-manufacturing services for home interiors and improvements. The projects can range anywhere from Rs 75,000 for a smaller kitchen project to upwards of Rs 3 crore for the most lucrative projects.
In February 2022, Arrivae had raised Rs 75 crore from Think Investments and Havells Group, among others. The firm also counts Rekha Jhunjhunwala, Dream11 founder and chief executive Harsh Jain, and DMart chairman Ramesh Damani among its backers.
