India: HomeLane secures $4.6m funding from Sequoia, Accel, others

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HomeLane, a Bengaluru-based online home interior solutions provider, has raised about $4.6 million (Rs 33 crore) in a bridge-round of funding from investors including JSW Ventures, Accel Partners, and Sequoia Capital.

The company will deploy funds to fuel expansion of its experience centers in existing and new markets. A chunk of the fund will also be utilised to boost technology and brand strengthening, it said in a statement.

The startup secured $3.5 million from Brand Capital, the strategic investment arm of Bennett, Coleman and Co. Ltd, in June last year. It also counts Baring PE, Aarin Capital, GrowthStory & RB Investments among its investors.

According to Crunchbase, HomeLane has raised a total of $69.2 million in funding till date.

Srikanth Iyer, co-founder and CEO of HomeLane.com said, “Our success in existing markets has given us the confidence to deepen our presence in these cities and venture into new ones too. We will also be leveraging a part of this for brand strengthening and to boost our technology platform, which has aided our customers and designers immensely.”

Founded in 2014, HomeLane.com currently operates in Bengaluru, Chennai, Hyderabad, Mumbai and Delhi-NCR, with nine experience centers and 500+ designers. It will be doubling the number of experience centers across India by end of 2019. The company said it is looking to end FY2018-19 at an ARR of about Rs 400 crore.

HomeLane competes with the likes of Livspace, Urban Ladder, Pepperfry, and FabFurnish.

Livspace closed a $70-million Series C funding round led by Goldman Sachs and TPG Growth in September last year. The round also saw participation from Jungle Ventures, Bessemer Venture Partners and Helion Ventures.

A Mint report in November last year said that Urban Ladder is looking to raise funds over the next 12 months to grow its offline presence. It raised $12 million in March last year from existing backers Kalaari Capital, SAIF Partners, Sequoia Capital, and Steadview Capital.

India’s home interiors market is fragmented and is expected to exceed $23 billion by 2022.

Also Read:

Kalaari-backed Urban Ladder doubles revenue, cuts losses in FY17-18

Online home interior startup Livspace raises $70m from Goldman Sachs, TPG Growth

 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.