Inflection Point Ventures Leads INR 10 Cr Funding in Home Décor Startup The Artment The round also saw participation from Siyaram Family Office, ESV, Capitar Ventures, and other investors.
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Home décor and lifestyle brand The Artment has raised INR 10 crore in a pre-Series A funding round led by Inflection Point Ventures. The round also saw participation from Siyaram Family Office, ESV, Capitar Ventures, and other investors.
IPV made its investment in this round through IPV International by using the GIFT City route.
The Gurugram-based company had earlier secured USD 527,000 in a seed funding round from Harshit Poddar and other investors.
The new funds will be used for expanding product categories, developing its technology platform 'Art Lab,' and enhancing sales channels.
Founded in 2019 by Aditya Agarwal and Aanchal Agarwal, The Artment offers a range of artistic home furnishings such as wall art, dining, and lighting products inspired by different art movements.
The brand claims to have built a strong presence online through its website and major e-commerce platforms, and it has also entered offline luxury retail in collaboration with Taj Hotels.
Aditya Agarwal, founder and chief executive officer of The Artment, said that the company's data-driven platform Art Lab helps it identify evolving consumer preferences and introduce suitable product assortments efficiently.
India's home and living market is currently valued at USD 3.7 billion and is growing at a rate of 15% annually, with around 12% of sales taking place online.
The Artment stated that it is EBITDA positive and aims to achieve INR 100 crore in annual recurring revenue within six months. The company has a repeat customer rate of 20% and a supply network spread across key art and manufacturing hubs such as Moradabad, Khurja, Firozabad, and Jodhpur.
