Artment Raises Rs 10 Crore in Funding for Home Décor and Lifestyle Brand
Home décor and lifestyle brand Artment has successfully secured Rs 10 crore in a pre-Series A funding round primarily led by Inflection Point Ventures. This funding round also saw contributions from Siyaram Family Office, ESV, Capitar Ventures, along with other investors. Inflection Point Ventures made its investment through IPV International, leveraging the GIFT City route.
Based in Gurugram, Artment had earlier raised $527K in seed funding from Harshit Poddar and additional investors. The newly acquired funds will be utilized for expanding product categories, investing in ‘Art Lab’—a technological platform designed to analyze data and launch new products—and enhancing channel expansion, as noted by Artment in their press release.
About Artment
Founded in 2019 by Aditya Agarwal and Aanchal Agarwal, Artment provides an extensive array of artistic home furnishings, including lighting, dining, and wall art, all inspired by various art movements. The brand has established a robust online presence through its own website and prominent e-commerce platforms and successfully ventured into luxury retail offline through a collaboration with Taj Hotels.
Investment in Data Analytics
Aditya Agarwal, founder and CEO of Artment, shared that their early investment in developing a comprehensive data analytics infrastructure called Art Lab significantly enhances their capacity to efficiently launch suitable product assortments while staying aligned with shifting consumer preferences.
Market Insights
According to market research, India’s home and living market is currently valued at $3.7 billion and is experiencing a growth rate of 15% CAGR, with online sales accounting for 12% of total transactions. Artment has reported that it is EBITDA positive and is targeting an annual revenue of 100 crore in the next six months. The brand boasts a repeat customer rate of 20%, indicating strong trust and consistent demand from its user base.
Strong Supply Chain Network
With nearly a decade of experience in establishing and scaling e-commerce enterprises, Artment is supported by a robust supply chain network that spans significant art and manufacturing hubs throughout India, including Moradabad, Khurja, Firozabad, and Jodhpur.