Vaaree secures $4M seed led by Peak XV's Surge

Vaaree, a thriving online marketplace for home goods, managed to secure an impressive seed funding of $4M. The round was led by Surge, a scale-up program by Peak XV Partners.

Here are the key details about this investment:

• Founding Team: Vaaree was established in 2022 by the entrepreneurial trio, Garima Luthra, Pranav Arora, and Varun Vohra.

• Utilization of Funds: The newly raised capital will be utilized to expand the team, enhance operations, and explore potential AI applications.

• Investment Details: The seed round saw a funding of $4M with Surge leading the investment. PeerCapital, All In Capital, and Better Capital also participated as key investors.

• Growth Stage: The company is in the seed stage of its development.

• Company Growth: Since its inception, Vaaree has made remarkable strides. With a catalog boasting over 20,000 products online, they have managed to deliver more than 150,000 products to homes across India. Their business model emphasizes working directly with local manufacturers, allowing them to offer top-notch home furnishings at affordable prices.

October saw the opening of Vaaree's first retail store in Bangalore, featuring an array of over 2,000 products across diverse home and lifestyle categories.

With the latest funding round, the company is set to leverage the growing online home products market, which is anticipated to witness a Compound Annual Growth Rate (CAGR) of 10.7% from this year through 2028.