In India, the modular furnishing market is worth over $10 Bn which is mostly unorganized with minimal quality standardization, obfuscated pricing and a tedious, high-friction purchase process. With aim to solve this, and offer much more engaging and better customer experience, online furnishing startup Zansaar’s cofounder Jawad Ayaz had launched CapriCoast.com, an online modular furnishing solutions startup last year.
Bangalore-based CapriCoast.com has today announced that it has raised over $1.25 Mn in a seed round led by Accel Partners India.
Jawad Ayaz had launched CapriCoast along with Vinod Chandran; currently the startup offers over 1000 deliverable designs.
“CapriCoast.com’s online model eliminates middlemen and brings in cost efficiencies that are passed on to the customer, making it possible for the price of a world class modular kitchen to be 20-25% lower than any other comparable offerings in the market,” Jawad said.
The startup also offers customers with features like, easy to use online customization tools and free design consultations to ensure a never before convenience and customer experience.
Prashanth Prakash, Partner, Accel Partners India Ventures said, “We see massive growth in the modular furnishing market in India, and see CapriCoast’s disruptive online-led approach as offering the most customer value in terms of product range, transparent pricing and ease of buying. We are delighted to partner with CapriCoast.com in their endeavor”
Bangalore based Zansaar, had raised $6 Mn from same funders Accel Partners and Tiger Global back in 2012. It is to be noted, that Zansaar’s Alexa rank has dropped significantly since past few months.
Zansaar and CapriCoast are planning to use each other’s platforms to increase their user base. CapriCoast is currently operational in Bangalore, but by the end of this year, it plans on expanding in all 6 metros in India.
There are few other startups in the space which has raising funding recently:
LivSpace: The Bangalore based company raised $4.6 Mn Series A funding, led by Helion Venture Partners and Bessemer Venture Partners along with Singapore based Jungle Ventures as investors.
HomeLane: In this year February, had raised $4.5 Mn series A funding from Sequoia Capital and Aarin Capital.
UrbanLadder: Founded by Ashish Goel and and Rajiv Srivatsa raised $50 Mn in a new round of funding led by Sequoia Capital alongwith TR Capital.