PharmEasy co-founders enter home improvement space with new venture
Bengaluru/Mumbai: PharmEasy co-founders Dharmil Sheth, Dhaval Shah and Hardik Dedhia have started a new venture called 'All Home' to capture the growing home improvement and interior design market, months after exiting the online pharmacy company.
The Mumbai-based company has raised an undisclosed capital from Bessemer Venture Partners at a valuation of over $120 million, its co-founder Dharmil Sheth told Mint. It also saw participation from prominent angel investors including Siddharth Shah (PharmEasy), Niket Shah (Motilal Oswal), Shalibhadra Shah (Motilal Oswal), Kabir Narang (B Capital) and Ankur Gulati (Warburg Pincus).
All Home will offer brands across categories including furniture, sanitary ware, kitchen and wardrobe and home hardware to build an omni-channel platform, Sheth said. The platform is already operational and features brands such as Colour Coats and House of W and Fiamarc.
Also read: Why is a $2.7 bn construction materials startup betting big on home decor?
'After roti and kapda, India's next consumer boom lies in 'makaan'. At All Home, we are building trusted brands for the way India lives, builds, and renovates—across homes, offices and urban infrastructure. Consumers are increasingly willing to invest in their living and working spaces, yet often lack access to the appropriate channels and products. Our platform aims to address this gap," the co-founders said in a statement.
In January, the three executives stepped back from day-to-day operations of PharmEasy to build the new venture. This came at a critical time for the health-tech firm which has seen a steep drop in valuation in recent years. PharmEasy counts Temasek, TPG, Prosus, B Capital, GSV and Think Investments among its backers.
The market for home improvement and organized furniture has been booming in India in recent years. A report by Deloitte from September 2024 noted that the country's home and household sector is expected to touch $237 billion by 2030 at a compounded annual growth rate (CAGR) of 10% bolstered by shifting consumer preferences and focus on convenience.
Also read: Marks & Spencer scales back its home decor business in India
According to Anant Vidur Puri, partner at Bessemer Venture Partners, the home infrastructure and interior design sector in India is at a pivotal inflection point, driven by rising aspirations and disposable incomes across the country. 'Despite its size, the market remains highly fragmented and underserved, with consumers and designers facing persistent challenges around quality, transparency, and efficiency."
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All Home aims to introduce a transparent procurement methodology to facilitate access to products at competitive prices. The founders have identified significant inefficiencies in the current procurement process—such as the need for designers to coordinate with multiple vendors, prolonged turnaround times, lack of design cohesion and insufficient after-sales support—which they intend to address using internet-led manufacturing and distribution, Sheth said.
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