Months after leaving the online pharmaceutical company, PharmEasy, co-founders Dharmil Sheth, Dhaval Shah, and Hardik Dedhia have launched a new business named “All Home” in an attempt to capitalise on the expanding home remodelling and interior design sector.
Co-founder Dharmil Sheth told a media outlet that the Mumbai-based business has raised an undisclosed amount of money from Bessemer Venture Partners at a valuation of more than $120 million.
Prominent angel investors Shalibhadra Shah (Motilal Oswal), Niket Shah (Motilal Oswal), Siddharth Shah (PharmEasy), Kabir Narang (B Capital), and Ankur Gulati (Warburg Pincus) also participated.
All Home would provide brands across categories including furniture, sanitary ware, kitchen and wardrobe, and home hardware to develop an omnichannel platform, Sheth added. With labels like Colour Coats, House of W, and Fiamarc, the platform is already up and running.
Changing the Way India Lives-All Home
The co-founders jointly said that “makaan” is the next consumer wave in India, following roti and kapda, when discussing the enormous potential of the home sector.
They further added that across residences, workplaces, and urban infrastructure, All Home is creating reputable brands that reflect the way people in India live, work, and upgrade. Although consumers frequently lack access to the right channels and products, they are becoming more and more eager to invest in their living and working environments. This platform seeks to close this disparity, as per the founders.
To establish the new business, the three executives left PharmEasy’s daily operations in January. For the health tech company, which has suffered a sharp decline in valuation in recent years, this comes at a crucial moment. Temasek, TPG, Prosus, B Capital, GSV, and Think Investments are some of the investors in PharmEasy.
In recent years, India has seen a surge in the organised furniture and home improvement markets. The country’s home and household sector is predicted to reach $237 billion by 2030 at a compound annual growth rate (CAGR) of 10%, according to a Deloitte analysis published in September 2024. This growth is supported by changing consumer tastes and an emphasis on convenience.
Latching on the Opportunities Provided by the Interior Design Market
Anant Vidur Puri, a partner at Bessemer Venture Partners, claims that the growing ambitions and disposable incomes in India are driving a significant turning point in the home infrastructure and interior design industry.
Puri claims that despite the market’s size, it is still extremely fragmented and neglected, with customers and designers always confronting issues with efficiency, quality, and transparency.
All Home wants to make it easier to get goods at affordable costs by using a transparent procurement process. According to Sheth, the founders plan to use internet-led manufacturing and distribution to address the major inefficiencies in the current procurement process, which include the need for designers to coordinate with multiple vendors, lengthy turnaround times, a lack of design coherence, and inadequate after-sales support.
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