Delhi NCR-based D2C Home Decor and furnishing platform WallMantra raise INR 2 Crore from Fluid Ventures Fund in their seed round. WallMantra marks a third investment from the fund in the last three months.
Founded by Jitesh Agarwal, Shivam Agarwal and Kundan Lal, WallMantra manufactures and sells luxury home decor and furnishing products at an affordable price. With their motto of “Grace Every Space,” they have something to offer to every homemaker willing to beautify any space of their home. Ranges like Paintings, Mirrors, Smart Furniture, Curtains and Bedsheets continue to be their flagship products, with much more coming up.
“With the outbreak of the Covid-19 pandemic, Home nesting became a necessity, and due to this tremendous shift, consumers started investing in enhancing their new homebound lifestyle and this lifestyle has been a driving force for WallMantra, which has been doing a tremendous job in innovating and launching products based on the continuous consumer buying behavior and this led to 90 percent of the sales comes from their website”, says Amit Singal, Founding Partner, Fluid Ventures.
According to the Inc42 report, the Indian online home decor market is estimated to grow from USD 2.1Bn in 2020 to reach USD 5.4Bn by 2025, at a CAGR of 20.4%. The total addressable market for D2C brands is expected to reach USD 100Bn in 2025.
“WallMantra, as a brand, has always tried to excel in bringing our patrons the latest and greatest in home decor and furnishing. We are endeavoring into international markets and the furniture segment as we grow at a rapid pace. Partnership with Fluid Ventures is going to help the brand substantially on our path to growth”, says Jitesh Agarwal, CEO and Co-founder, WallMantra
WallMantra sells over more than 10,000 products every month from their website and has a customer base of over 2,50,000 across the country with a repeat of 25 percent month on month. The company plans to utilize the funds in strengthening its sales and marketing capabilities and introducing aesthetically pleasing décor products for both Indian and US markets.