Online home furnishing portal Bedbathmore.com has raised an undisclosed amount in series A funding from Blume Ventures, reports Techcircle. The report says that the promoters of the company Encompass Design India Pvt Ltd, has also put in some money to the venture and the company plans to use the funds raised in building private labels and hiring category leaders in next 12-18 months.
Bedbathmore provides home furnishing products across various categories such as Bed, Bath, Kitchenware, among others. When we checked, the site seems to offer products like Bedding protector, Bed sheets, door mat, curtains, comforter, bath slippers, towels, kitchenware, table mats, among others. One can filter products based on brands, color, and design pattern. As indicated by the report, Bedbathmore caters to 3,000 locations and has a fulfillment house in Mumbai.
The company competes with all you can eat e-commerce websites such as Homeshop18, eBay India, Indiatimes Shopping, among others. Niche players in the same segment includes Fabfurnish and Roomstory. Mumbai based Mirraw.com also offers home furnishing products on its site.
No more series A crunch?
There’s been much hype about how startups are not able to raise funds beyond seed round and that VCs are not putting in more funds when it comes to e-commerce sites. But it appears that VCs are back to funding e-commerce sites. In April 2013, SkoolShop, an e-commerce site run by Occasion Kommerce Pvt. Ltd., raised funding in a Series A round from Blume Ventures and angel investors including Sunil Kalra, Srikant Shastri, Vikas Choudhary and Puneet Deora.
Perhaps the $50 million raised by Snapdeal in a Series C round earlier in April 2013 have restored faith among VCs in e-commerce segment?