Chapter Home raises ₹63 Cr from Bessemer and others at near ₹1,000 Cr valuation
The home and kitchen startup, founded by ex-PharmEasy executives, raised the money in a mix of equity and debt.
The 30-second read
- Chapter Home raised ₹63 Cr in equity and debt, per Entrackr, Indian Startup News and The Economic Times.
- Valuation is close to ₹1,000 Cr. Investors include Bessemer Venture Partners, Stride Ventures and Tanmay Bhat.
- Funds go to products, technology, brands, distribution and its first physical retail touchpoints.
Home and kitchen startup Chapter Home has raised ₹63 Cr through a combination of equity and debt. Entrackr, Indian Startup News and The Economic Times reported the round. The valuation is close to ₹1,000 Cr.
Bessemer Venture Partners and Stride Ventures took part, along with Tanmay Bhat and family offices. The founders are Nitin Chugh, Akarsh Bharadwaj, Shrey Mittal, Dhiraj Jain and Dheeraj Goyal, all ex-PharmEasy. Indian Startup News first reported that Chugh is co-founder of Chapter Home. It also first reported that Anant Vidur Puri is a Partner at Bessemer Venture Partners.
The money will go into product development, new categories, technology, brand building and distribution. It will also fund the first physical retail touchpoints. The company intends to reach customers via D2C, offline stores, quick commerce and online marketplaces. Its first brand is HOKIPO, an online home furnishing brand.
Nitin Chugh, co-founder, said, "The home and kitchen market in India remains highly fragmented despite being a very large consumer opportunity". Anant Vidur Puri, Partner at Bessemer Venture Partners, said, "Chapter Home's approach of building a focused brand for each part of the home on a shared technology, sourcing and distribution backbone fits how this market actually works." Both quotes were first reported by Indian Startup News.
Why it matters
India's home and kitchen market is fragmented, and investors are backing brand-led players. This is the second PharmEasy-alumni home startup Bessemer backed this year, after AllHome's ₹200 Cr Series B in June.