Bangalore-based OrangeGubbi Technologies Pvt. Ltd, which owns and operates the home interior designing startup MyGubbi has raised $2.5 million in a fresh pre-Series A funding round led by the family office of Firoze Irani; Vipul Parekh, co-founder of Big Basket; Ananda Kallugadde, co-founder of NeoBytes; and Rajesh K Murthy, president of Infosys, among others.
The raised capital will be used to expand its presence deeper into existing markets, strengthen its backend and to set up a design centre of excellence in Bengaluru, startup’s co-founder Umesh Sangurmath said in the statement.
Mygubbi was co-founded in 2015 by NITK Surathkal alumnus Umesh Sangurmath and Ravi Rao, also from NITK and an IIM-B. Sangurmath and Rao had earlier co-founded food and grocery retail chain Smart, which they sold out to Mumbai-based Wadhawan Group.
MyGubbi offers interior design and home decor solutions across categories including kitchen, wardrobe and storage. The startup claims that all its orders are delivered and completed within 45 days and it offers a five-year warranty. It has partnered with brands such as Hettich, Hafele and Century Ply to source its requirements. The startup has stated that it uses automated tools to streamline processes right from the inception of the project until the delivery of the product. This helps in reducing lead time, which otherwise has been a major concern in the home interior designing industry.
MyGubbi, which is currently operational in Bangalore, Mangalore, Chennai and Pune claims to have offered its services to more than 600 homes till date, according to information on the company’s website.
As part of its efforts to strengthen its backend, the company has invested in a fully operational manufacturing unit. According to a previous media report, the company had last raised $2.5 million in March 2016 from nearly 20 angel investors that included Parekh, Kallugadde and Murthy.