Furnishka raises Rs 27 Cr in pre-Series A round led by IndiaQuotient

Furnishka, a furniture retailer founded in 2023 by Ganesh Pawar, has successfully raised Rs 27 crore in a pre-Series A funding round led by IndiaQuotient, bringing its total funding to Rs 45 crore. The round also saw participation from Sparrow Capital and angel investors, including Udaan co-founder Sujeet Kumar and Ramakant Sharma.

The new funds will be used to enhance product design and development, bolster manufacturing and supply chain capabilities, and expand to new locations.

 Furnishka aims to simplify India's complex home furnishing market by addressing issues such as long delivery times, high costs, and inconsistent service quality. It offers a seamless shopping experience through both online and offline stores in Bengaluru, with over 1,000 SKUs and customizable designs at competitive prices.

Market research indicates that the Indian furniture market is projected to grow from $24.47 billion in 2023 to $64.39 billion by 2032, with a CAGR of 11.35% from 2024 to 2032.

Furnishka has focused on supply chain innovation, standardization, localization, and cost reduction to deliver premium furniture affordably. Within its first year, the company has served over 10,000 customers and operates four large-format stores in Bangalore, showcasing a wide array of products.

Looking ahead, Furnishka plans to expand its product categories, particularly in premium living room, dining room, and bedroom collections, open six additional large-format stores, and create educational content to help customers make informed furnishing decisions. The company offers thousands of customization options to cater to diverse tastes and requirements.