PARÉ Innovations Raises $8.5Mn Funding For Expansion

Mumbai-based premium ceiling, wall and facade panel manufacturer, PARÉ Innovations, has secured $8.5 million (around Rs 72.9 cr), in its first funding round from Advenza Global Limited.

With this funding round, the company is now valued at Rs 540 crore. The proceeds will be used to expand quickly in India and abroad, aiming to reach Rs 1,000 crore in revenue over the next four years.

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“This funding marks a significant step towards realising our vision of making PARÉ a global leader in the interior products space. We're excited to accelerate our growth and expansion plans, and look forward to creating exceptional spaces,” said Bipin Parmar, Managing Director, PARÉ Innovations.

About PARÉ Innovations

Founded in 2020 by Bipin Parmar and his son, Parth Parmar,  PARÉ Innovations makes strong, waterproof, low-maintenance panels for ceilings, walls and facades that look like real wood and can be customised.

It aims to grow further in India’s Tier II and III cities and is also considering going public in the next few years to boost its growth.

PARÉ Innovations, already present in 13 countries, plans to expand to over 50 countries. 

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PARÉ, focused on innovation, quality and design, is exploring ways to grow faster, including a possible IPO. With over 30 years of experience from its founders, the company says it has delivered many top-class projects around the world.

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