Bengaluru-based online home interiors startup HomeLane has raised $10 million from Accel Partners, Sequoia Capital, and RB Investments.
The company will use proceeds towards fueling growth, strengthening operations and technology innovation to attract customers as well as designers.
HomeLane offers a virtual design platform and a real-time integrated pricing engine. It enables homebuyers to select kitchen, wardrobe or wall unit combinations with different layouts, designs, colors, and finishes.
The company recently launched its operations in the NCR with offices in Gurugram and Noida. It also plans to set up an experience centre in Gurugram within the next two months. Currently, it claims to process about 100 orders a month.
Till date, HomeLane has raised about $15 million in venture funding from investors like Sequoia Capital, Aarin Capital, Growth Story and Baring PE. In November this year, the company had acquired one of its competitor Capricoast for Rs 90 crores.
“HomeLane’s strategic focus has always been to simplify and streamline the process of home designing and furnishing for urban Indian home buyers. This strategy’s success, combined with this funding round has put us in a formidable position to scale up and capture a larger share of the home design market in all key cities of India,” said Srikanth IyerHomeLane.com co-founder and CEO to PTI.
Founded by Iyer, Rama Harinath along with K Ganesh and Meena Ganesh- HomeLane had acquired Doowup, a tech startup that provides hyper-realistic, personalised home decor “Shop-the-Look” experience for an undisclosed amount in 2015.
Other players in the segment include HomeLane.com, Livspace.com, UrbanLadder, and Pepperfry. In October, MyGubbi had raised $2.7 million in pre-series A funding in a round led by the family office of Firoze Irani and a clutch of angel investors.