Bengaluru Based Home Decor Company Homelane raised 50 million USD by fundraising

An online based interior designer farm Homelane, founded in 2014 has recently raised through a series of E-fundraising initiated by Oman India Joint Investment Fund, IIFL Asset Management company and stride ventures. Their existing investors Pidilite, Evolvence, NuVentures, Sequioa,and Accel also took part in the program and with this the company has reached to over 104million USD in their pat seven years of business. This new funding will help them to achieve their goal of raising 2500 crores within FY2024.

According to the Co-Founder Srikanth Iyer the new fund will be used for introducing new technologies and stepping with new ventures in small cities or town so that customers can avail their product easily.

Till date they served 20K happy customers with 10K customers with repurchasing of their products having a workforce of 1400 experts of the field.

This Bangalore based farm has grown nearly 16% from FY2020 to FY2021 with 232 crores to 269 crores. During the wake of pandemic, they somehow their loss in FY21 which is nearly 18.6% of 83 crores which was previously 102 crores more as compared to their last year’s sale. As per the information, the company is planning to raise their profit percentage by generating an amount of 423 crores.