Bangalore-based online branded furniture startup, HomeStudio.com, has bagged $5 Mn (INR 33.4 Cr.) in a seed round of funding from Bren Corporation. The funds raised will be deployed in strengthening its technology platform, build warehouse capabilities, offline studios and expand its team.
Founded in this year by Alok Duggal, HomeStudio, an omni-channel platform, offers global home solutions in the furniture category that are aligned to the new Indian urban lifestyle. It provides customize solutions for kitchens, wardrobes, living room and storage solutions. It ties up with international brands to source their fixtures and units at a discounted price to sell in India.
“We plan to offer something completely new to the Indian consumer, through our international designs, expert know-how and a unique customer engagement process,” said Alok Duggal, COO at Home Studio. “Our methodology will remove any surprises in what is planned and imagined and what is finally delivered and experienced.”
The company imports from Germany and plans to expand to suppliers in Italy.
Recently in this space, Hyderabad-based custom-made furniture etailer CustomFurnish.com raised about $4.5 Mn (INR 30 Cr.) in the second round of funding from Agnus Capital.
Other players in the furniture category include Urban Ladder, HomeLane, FabFurnish, LivSpace and Pepperfry.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.
