Bengaluru-based online interior design startup Design Cafe has raised an undisclosed amount of funding in a fresh round of funding led by Fireside Ventures. Other investors who participated in this round include existing investor Apurva Salarpuria, angel investor Sidharth Pansari, and Sprout Capital.
This is the second round of funding that the company has raised in the last 18 months. The firm will use raised capital to expand its experience centres, said in a statement.
Commenting on the fund release, Kanwaljit Singh, MD, Fireside fund said, “Design Cafe is building a strong brand based on its innovation and design processes that are merged with technology to create contemporary new solutions that are relevant. The unparalleled growth is a confirmation of the idea by this futuristic venture.”
Founded in 2011 by Gita Ramanan and Shezaan Bhojani, Design Cafe is a design and building consultancy. The startup offers online customised design and decor solutions. The company specialises in tailor-made architecture and interior solutions focussed mainly in residential interiors. Currently, it operates in Bengaluru and soon to expand to other cities, including Mumbai and Delhi.
Commenting on the development, Shezaan Bhojani, CEO Design Cafe said, “The interior design industry has largely been offline and disorganised. Middle-class homeowners with houses priced between the range of about $116K (INR 75 Lakh) to $232K (INR 1.5 Cr) have lacked access to designers and innovation in interior decor. We are targeting that segment.”
The startup claims it had seen an unprecedented 300 per cent growth in revenue over the last 12 months making 20 crores in revenue and further expects to achieve 100 crores in revenue over the next 24 months.
Other players in this sector include Livspace, a home interior design marketplace backed by Bessemer Venture Partners, Homelane.com, backed by Sequoia Capital, Infurnia Furnishings Pvt Ltd, backed by Idein Ventures and Foyr.com, backed by Jones Lang LaSalle (JLL) India to name few.