Lorazzo Raises $1.71 Million to Expand Product Offerings
Lorazzo, a Delhi-based company specializing in kitchen and bathroom fixtures, has successfully raised $1.71 million (Rs 15 crore) in a recent funding round. The investment was led by Sauce, with participation from Sprout Venture Partners, Panthera Peak, and Alteria Capital.
Founded by Jatin Luthra and Saurabh Gupta, Lorazzo offers a range of kitchen and bathroom products, including SS304 and quartz kitchen sinks, commodes, wash basins, and mirror cabinets. The company provides up to a 20-year warranty, free delivery, and a 30-day return policy on its products.
Strategic Plans for Funding Utilization
Lorazzo plans to use the new capital to expand its product portfolio and invest in product development. Additionally, the company aims to build its team and enhance its presence both online and offline across more Indian states.
Jatin Luthra, co-founder, commented on the industry landscape, stating, "Kitchen and bathroom fittings have remained one of the few large consumer categories where brands have largely stayed unchanged while the consumer has evolved dramatically." His fellow co-founder, Saurabh Gupta, added, "Our ambition is not simply to build another fittings company. We want to build a consumer brand for one of the most frequently used parts of every home."
Investor Participation
The round was led by Sauce, with Sprout Venture Partners, Panthera Peak, and Alteria Capital also participating. This investment signals confidence in Lorazzo's potential to innovate within the kitchen and bathroom fittings market.
Looking Ahead
With the fresh influx of funds, Lorazzo is set to strengthen its market position and cater to the evolving needs of modern consumers who prioritize design and technology in their home fittings.