Amsterdam-based home & living startup NADUVI has raised $10 million in a Series A round led by Begin Capital. The round also saw participation from All Iron Ventures, FJ Labs, existing investor Slingshot Ventures, and a number of undisclosed Angel Investors. The firm is reporting that the funding will be used to continue its rapid expansion and enter new European markets.
“NADUVI is building a unique technological platform that allows consumers to purchase beautiful interior brands at significant discounts,” says Begin Capital’s Alex Menn. “We are impressed by the team and the strong growth of the brand in a short time, and believe it has great international potential.”
Founded in 2019 by Itai Gross, providing a direct sale to the consumer, NADUVI offers over 25,000 interior decorating products from some 250 brands, all at discounted prices ranging from 30% to 80% off retail.
The firm is active in The Netherlands, Belgium and as of April of this year, Germany and has seen strong growth in its supplier portfolio over the past year. Brand loyalty remains strong as well, with NADUVI reporting that almost 25% of customers make a repeat purchase on the platform within the first few months.
“We can look back on an excellent first year,” says Gross. “This new funding round demonstrates that investors believe in our vision. Our goal is to become the largest online interior outlet in Europe and offer all customers great items at major discounts.”