The custom-made furniture etailer, CustomFurnish.com has announced the launch of its services in Hyderabad. The interior startup has also raised INR 16 Cr. in funding from Serial entrepreneur and MedPlus Group founder Madhukar Gangadi.
The investors in the company include Satish Reddy, chairman of Dr Reddy’s Laboratories limited, Srini Raju, founder of Mumbai-based private equity fund Peepul Capital LLC, and Srini Koppolu, former managing director of Microsoft India Development Centre. Out of the INR 16 Cr raised, INR 3 Cr was secured from Small Industries Development Bank of India (SIDBI).
Speaking at the launch of the website, Madhukar Gangadi, Founder and Chief Executive Officer, CustomFurnish.com said, “We saw it as an opportunity to revamp the customer experience of online market for furniture. Our aim is to remove the constraints of catalogue based model of selling and replace it with an interactive approach that allows an almost infinite choice of designs.”
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The company is also planning to launch its services across Bangalore and Chennai early next month. Currently CustomFurnish.com operates its own manufacturing unit and delivery centre in Hyderabad, which serves as a hub for the entire country.
CustomFurnish.com was founded by Madhukar Gangadi. It is first of its kind online retailer for custom furniture. The USP of the company is easy to use online design software which lets customers design from scratch or customize existing models, while allowing for visualization and instant pricing update of the designed product.
The platform allows customers to turn interior designer and do up their home furniture according to their choice of colour, style, design, size.
The company’s offerings include modular kitchens, wardrobes, entertainment units, other fitted furniture for the home along with sofa sets. It also plans to expand its product offerings and include more products to address every possible need for a complete interior makeover.
There are other ecommerce firms in furnishing space which include Urban Ladder, HomeLane, FabFurnish, LivSpace and Pepperfry etc. Recently, Bangalore-based HomeLane has raised $4.5 Mn in a funding round led by Sequoia Capital. Another interior startup, Pepperfry.com had also raised $15 Mn from Bertelsmann India Investments and Norwest Venture Partners in 2014.