Furnishka Bags INR 27 Cr From IndiaQuotient, Others To Disrupt Furniture Space

Furnishka Bags INR 27 Cr From IndiaQuotient, Others To Disrupt Furniture Space

SUMMARY

Furnishka has raised INR 27 Cr ($3.25 Mn) in a Pre-Series A round led by IndiaQuotient, bringing its total funding to INR 45 Cr ($5.42 Mn)

The Bengaluru-based startup plans to use the funds for product development, supply chain improvements, and expansion to new locations

The funding comes as the Indian furniture market is projected to reach $29.86 Bn by 2029, with major players like Godrej Interio, IKEA, Pepperfry, and Urban Ladder also announcing expansion plans

Furniture retailer Furnishka has secured INR 27 Cr ($3.25 Mn) as a part of its Pre-Series A funding round led by IndiaQuotient.

The round also saw participation from Sparrow Capital and a host of angel investors, including Udaan cofounder Sujeet Kumar and Livspace cofounder Ramakant Sharma.

The company plans to deploy the fresh proceeds to advance its product design and development, boost manufacturing and supply chain capabilities and expand into new locations.

So far, the Bengaluru-based startup claims to have raised INR 45 Cr ($5.42 Mn) in total funding.

Launched by Spinny cofounder Ganesh Pawar last year, Furnishka aims to address challenges in India’s home furnishing market. The company operates both online and offline stores in Bengaluru, offering over 1,000 SKUs and customizable designs.

Anand Lunia, partner at IndiaQuotient, said, “Furnishka’s expertise in logistics and customer-centric approach creates the ideal synergy to build a large-scale, omnichannel furniture retail chain. The team’s approach to supply chain management and their focus on affordable, high-quality furniture positions them well to capture this market.”

This comes at a time when the Indian furniture market is witnessing a significant growth. According to Mordor Intelligence, the Indian furniture market is estimated to reach a size of $29.86 Bn by 2029. 

In the broader furniture retail landscape, several companies have announced expansion plans. Godrej Interio plans to open 104 new stores in fiscal year 2025, projecting 20% growth. IKEA aims to electrify all deliveries in India by 2025. 

Online furniture brands, Pepperfry and Urban Ladder are also expanding their reach. Pepperfry is targeting double-digit growth in 2024-25 by expanding its product portfolio and entering Tier I and II cities while Urban Ladder had plans to double its retail store presence from 32 cities in 2024. 

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Furnishka Bags INR 27 Cr From IndiaQuotient, Others To Disrupt Furniture Space-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Furnishka Bags INR 27 Cr From IndiaQuotient, Others To Disrupt Furniture Space-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Furnishka Bags INR 27 Cr From IndiaQuotient, Others To Disrupt Furniture Space-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Furnishka Bags INR 27 Cr From IndiaQuotient, Others To Disrupt Furniture Space-Inc42 Media
Furnishka Bags INR 27 Cr From IndiaQuotient, Others To Disrupt Furniture Space-Inc42 Media
You’re in Good company