Arista Vault plans first funding round to aid expansion
Smart-wallet brand Arista Vault has become profitable in its first year of operations and plans to raise around Rs 1 crore in its first funding round to expand its secure wallet business.
After Arista Vault launched just over a year ago with a bootstrapped investment of Rs 30 lakh, the business has already sold over 1,000 units and reached a revenue total of Rs 35 lakh, the business has told Your Story. Arista Vault is now looking to launch its first funding round to further expand the business after its patents come through.
Arista Vault has already won support from the Ministry of Electronics and Information Technology and sees India as a large opportunity for growth. The brand began retailing in the Indian market and has recently launched in the U.S. and UAE.
Arista Vault wallets include a range of features designed to keep valuables secure such as phone tracking technology, anti-radio frequency identification, anti-loss, and anti-theft technology. The wallets, which come in four designs, come with a two-year warranty and are made from leather.
Indian Army veteran KK Singh, fashion designer Purvi Roy, and finance executive Atul Gupta launched Arista Vault in 2018 in Delhi, with the aim of marrying fashion with security. The brand’s wallets retail online via its namesake store and on Amazon, with wallets for both men and women ranging in price from Rs 1,800 to Rs 8,000. The brand’s name means ‘unhurt’ in Sanskrit.
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