Hyderabad-based custom-made furniture etailer, CustomFurnish.com, has raised about $4.5 Mn (INR 30 Cr) in the second round of funding from Agnus Capital.
O3 Capital was the sole advisor for this transaction.
Dr. Madhukar Gangadi, promoter, founder and CEO of CustomFurnish, said that the company will use the raised capital to upgrade its technology and strengthen logistics. He is also the founder of e-pharmacy startup MedPlusmart.Com.
Launched in early 2015, this is CustomFurnish’s second funding in just eight months. Prior to this, the company had raised a capital of about $2 Mn (INR 16 Cr).
The startup is a vertically integrated ecommerce venture that allows customers to design their furniture online, either from scratch or by modifying an existing template. Presently, CustomFurnish offers its services in Hyderabad and Bangalore. It has further plans to offer its gamut of services in other four metros.
The startup has its own manufacturing unit and delivery center in Hyderabad, which serves as a hub for the entire country. It has three manufacturing facilities in Hyderabad from where it manufactures kitchen cabinets, wardrobes, sofas and custom curtains.
CustomFurnish’s software is designed in such a way that it allows customers to choose material and design, while providing instant quotes for every design and material.
The startup competes with players like Urban Ladder, HomeLane, FabFurnish, LivSpace and Pepperfry.
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