Gurgaon-based The Artment, an online contemporary home decor startup, has raised an undisclosed amount in a seed funding round led by Mumbai Angels, with participation from other angel investors.
The startup plans to use the raised capital to launch SKUs in the US and scale its business in the American e-commerce market.
Founded in 2016 by Aditya Agarwal and Aanchal Agarwal, The home decor brand’s plan comes from successfully testing indigenous products in the US market while it was a part of Amazon’s Global Selling Propel program.
“The recent US-China rift has opened several doors, offering brands like ours the opportunity to showcase indigenous products on the global platform. The Artment is focused on bringing international design and aesthetic sensibilities to craft clusters at home like Jodhpur, Meerut, and Moradabad. We plan to connect these clusters to international buyers through the D2C channel,” said Aditya Agarwal, Founder of The Artment.
Commenting on the investment, Nandini Mansighka, Co-Founder & CEO of Mumbai Angels, said, “With a growing demand for exquisite solutions, the luxury home décor market is witnessing rampant growth.”
“Since its inception, The Artment has successfully carved a niche for itself globally with its products that are uniquely placed to blend art and utility in an innovative way, and this funding is a testament to the brand’s immense potential. We are excited about their growth and wish the team great success in carrying out scale-up plans in the US market,” Nandini added.
“We specialize in designing art for people’s homes and offices. We’ve always been passionate about bringing magic into people’s lives, and after the recent lockdown, we’re seeing people spending more time inside their homes. This is the perfect time to bring in the magic of art with our products and allow people to put together a home that is aesthetically pleasing and a reflection of them since art is subjective and immensely opinionated,” said Aanchal Agarwal.
Source @Indianstartupnews
