Funding is the process of putting in cash in a business or a startup. Investors have a firm eye on the functioning of various startups, through which they decide in which startup they need to invest and in which they do not.
There are multiple rounds of funding that a startup undergoes.
They are explained below-
Pre Seed Funding- It is the earliest stage of the round of funding. It is that phase when the founders of a company are getting their operations off the ground. The funders in this round of funding usually are the founders of the startup, close friends, family.
Seed Funding– It is the first official funding stage of the startup. It is like a “seed” that has been implanted which helps a business to grow. Usually, this funding is done for market research and product development. Usually, angel investors take part in this round of funding.
Series A Round of Funding- Seed Funding ensures that the business is on track, has developed a user base, has revenue. Hence, Series A Round of Funding helps in further expansion of user base and product expansion. This round of funding ensures that opportunities are taken into broader and different markets.
Series B Round of Funding– This round takes the business to the next stage beyond development. Companies that have reached here have proved that they have a solid user base and are ready for success in the long run. This round has typically the investors who were in Series A Round of Funding.
The list goes on and all. The company can go on and on with the rounds of funding. With every round of funding, more capital is raised, which eventually leads to more expansion in the future.
Announcement of funding of a startup
The startup, Wallmantra, has raised an undisclosed amount, as announced on October 30, 2021. This round of funding was led by Velocity, which is a revenue-based financier fintech. According to the sources, the startup has raised three rounds from Velocity, raising 5x the amount raised in the initial round.
The startup plans to use the funds raised for growth and development purposes.
About the newly funded startup
The startup, Wallmantra, was started in the year 2013. It has a comprehensive and elegant range of Wall Decals, Wall Paintings, and other home decors. The New Delhi-based startup began its operations with wall stickers and continuously expanded in other vinyl products with the best quality promise. It has a fully dedicated team of designers, manufacturing workers, and sales and marketing. They are working with the utmost inspiration to bring the customers the best quality and most innovative home decor items.
The startup assures 100% quality in the products offered. It proudly says that it is MAKE IN INDIA and has ZERO Chinese Import Policy. Every product sold undergoes a vital quality check process. It is engaged in bringing the latest trends from home decors worldwide and ensuring that the prices charged are reasonable to serve a large base of its customers.
Why choose this newly funded startup
The startup deals in modern and traditional trendy wall decors, which helps to complement the grace of a site. It prioritizes the recommendations and demands of our clients to satisfy them beyond their expectations. They have the following features because of which we should choose it-
Designer Product Range
Moderate Pricing Policy
Ethical Business Practices and Transparent Dealings
Prompt and Safe Delivery
It has more than 1000 products in its portfolio to offer its customers. The home decor and online furniture industries are showing tremendous growth, increasing the startup’s sales.
What has been said about the deal?
The co-founder of the startup, Wallmantra, Shivam Agarwal, commented that the startup is planning for the next growth phase with this round of funding. He said that even when we raised the capital from Velocity, the startup could double its revenue within ten months. He even said that the startup had raised larger rounds at better terms because of the longstanding association with the venture fund.
The co-founder and the CEO of Velocity said that the startup, Wallmantra, is made for exponential growth. He appreciated the startup, saying that it earns most of its revenue through the website and has excellent margins impressed the investors. He further said that over time they had invested multiple times in the startup. He even said that the ability of Velocity to extend their capital at better terms is one of the reasons why their retention rate is 78%, which is higher than the industry average.
The startup has something new to offer on its plate. It is doing good, and we wish the startup nothing but good luck and a prosperous and bright future ahead.
Article Proofread and Edited by Shreedatri Banerjee