India: Interiors startup HomeLane raises $8m led by Stride Ventures

Photo by Josh Appel on Unsplash

Online home interiors start-up Homelane has raised 60 crore ($8million) in a bridge round led by Stride Ventures.

Stride Ventures participated through debt funding of 20 crore in the company. Existing investors Accel Partners, Sequoia Capital, Evolvence India and JSW Ventures have also participated, infusing another 40 crore in equity.

With this round, HomeLane’s overall fund-raising has crossed 370 crore ($54 million) over the last 6 years.

“This round isn’t purely a runway extension. We have invested in the company keeping in mind the fundamentals in place. The company has a significant target addressable market. Furthermore, they have limited competition and are building a technological moat. Post-lifting of lockdown restrictions, the company has quickly scaled up their orders, ” said Ishpreet Singh Gandhi, founder and managing partner, Stride Ventures.

“Our mission is to make home interiors easy for the world, and this hasn’t changed during the pandemic. Virtual meetings, powered by our 3D design & collaboration platform SpaceCraft, have enabled us to meet customers and deliver superior design experience to them while practising social distancing,” said Srikanth Iyer, founder and chief executive of HomeLane.com.

The company said that it recorded 230.4 crore operating revenues (unaudited) for the year ended March 31, 2020, a growth of 130% over its revenues of 99.95 crore during the previous fiscal. During the last six years, the company has established operational presence across 10 cities with 19 experience centres and 900+ design experts on its tech platform.

This article was first published on livemint.com.

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.