The Artment raises Rs 10 Cr in pre-Series A round led by IPV

Home décor and lifestyle brand The Artment has raised Rs 10 crore in pre-Series A funding round led by Inflection Point Ventures. The round also witnessed participation from Siyaram Family Office, ESV, Capitar Ventures and others. IPV made its investment in this round through IPV International as well, utilizing the GIFT City route. 

The Gurugram-based company had previously raised $527K in a seed funding round from Harshit Poddar and others.

The proceeds will be deployed over category expansion, investment in ‘Art Lab’ – a tech-platform to crunch data, launch products and towards channel expansion, The Artment said in a press release. 

Co-founded in 2019 by Aditya Agarwal and Aanchal Agarwal, The Artment offers a wide range of artistic home furnishings, including dining, lighting, and wall art, designed with various art movements in mind. The brand maintains a strong online presence through its website and major e-commerce platforms, and has expanded into offline luxury retail through a partnership with Taj Hotels..

“At Artment, we invested early in building a strong data analytics infrastructure called Art Lab, which powers our ability to launch the right assortment efficiently and stay close to evolving consumer preferences,” said Aditya Agarwal, founder & CEO, The Artment.

As per a market research, India’s home & living market, currently valued at $3.7 billion, is growing at a 15% CAGR, with 12% of sales occurring online.

The Artment claims that it is EBITDA positive and is aiming to reach 100 crore ARR in the next six months. The brand has a repeat customer rate of 20%, showing trust and steady demand from the existing users. Closing in on a decade of experience in building and scaling e-commerce businesses, it is backed by a deep supply chain network present in most key art and manufacturing clusters across India such as Moradabad, Khurja, Firozabad, and Jodhpur.