Bangalore-based online modular kitchen and home furnishing solutions provider CapriCoast Home Solutions Pvt Ltd has raised $3.5 million in Series A round of funding from Singapore-based venture capital firm RB Investments. Existing investor Accel Partners also put in money in this round.
The home furnishing company plans to use the money for boosting sales, expanding marketing efforts and hiring talent.
Last month, DEALSTREETASIA was the first to report about the development.
“Capricoast is well aligned with our investment philosophy of investing in companies who are tackling a complex, multi-faceted problem that if addressed right provides a rapidly scalable business opportunity. We firmly believe that Capricoast offers the best approach to organise the fitted furnishing space in India with their team, technology and track record,” said Rajesh Bothra, MD, RB Investments.
RB Investments provides seed, venture and growth funding and also offers technical, technological, logistical and managerial expertise required for the entrepreneur to grow the venture into a successful company.
Earlier it invested in the companies like Spuul, Foodpanda, 5asec, Desai Fruits & Vegetables and Delight Foods.
“Our online-to-offline (O2O) market place model, addresses the problems that customers face today while buying modular furnishing – Obfuscated pricing, delayed delivery, limited choice and lack of transparency. CapriCoast is pioneering a data science led, transformative technology that is rapidly changing the way customers experience the buying modular furnishing in India,” said Jawad Ayaz, founder and CEO, CapriCoast.com.
Founded in January 2015 by Jawad Ayaz, CapriCoast claims to be the only marketplace in India for buying solutions. The company provides modular furnishing and home furnishing solutions online and has over 1,000 deliverable designs.
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