India: HomeLane buys online furniture seller CapriCoast for $13.8m

HomeLane.com, a Bangalore-based online home interior company, has acquired online furniture seller CapriCoast for Rs 90 crore ($13.8 million).

According to a statement, CapriCoast’s 120-strong team will join HomeLane and its founder and chief executive Jawad Ayaz will join the board of directors as a part of the deal.

“This is a coming together of two big players in home design with complementary strengths and expertise. This acquisition also marks the beginning of HomeLane’s next phase of growth and expansion, given that we have already achieved operational profitability,” said Srikanth Iyer, co-founder and CEO of HomeLane.

Founded in January 2015 by Jawad Ayaz, CapriCoast offers modular kitchen designs along with online tools to customise and order them. It connects customers with manufacturers and suppliers of kitchen solutions and wardrobes.

The company is backed by venture capital firm Accel Partners India and Singapore-based RB Investments. In December 2015, CapriCoast raised $3.5 million in a Series A round led by Accel and RB Investments. Prior to that in April, it had secured a seed funding of $1.25 million from Accel Partners.

Homevista Decor and Furnishing Pvt. Ltd, the online furniture and design company that operates Homelane.com, was founded by 2014. The company offers a virtual design platform and a real-time integrated pricing engine.

In March this year, the company had raised $3 million from Baring Private Equity Partners India. Last year in August, HomeLane had secured $6 million in its Series B round from Aarin Capital and Sequoia Capital. In July 2015, the firm had also raised Series A funding from Sequoia, Aarin Capital and Growth Story.

In September 2015, HomeLane had acquired virtual tech startup Doowup.

Also Read:

India-based online furniture startup Homelane to raise $20m
India: CapriCoast raises $3.5m from RB Investments, Accel

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).   

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  • 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. 
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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.