Homestudio, an online furniture startup, has raised $5 million in a round of funding from Bren Corporation, reports BusinessWire India. The startup will use the funding to strengthen its technology, better its warehouse & delivery mechanism and improve customer service experience.
Founded last month, Homestudio currently offers different kinds of furniture for various rooms including kitchen, living, dining, bedroom, kids, storage and study. The company seems to focus on selling German made furniture, as all the furniture we viewed was branded as such. It also provides a 5 year warranty on furniture, and claims to send in trained designers and installers for installing the furniture.
The startup also offers ‘experience zones’, currently in three locations in Bangalore, that users can go to to check out the furniture. Interestingly, all these locations are that of Bren furniture stores. As of now, Homestudio operates only in Bangalore where it has 50 employees, and has plans to expand to all other major cities in the next 12-18 months.
– In September HomeLane, a Bangalore-based online marketplace for fixed furniture, acquired Doowup, a virtual home decor platform for an undisclosed amount. In February this year, the company raised $4.5 million in funding from Sequoia Capital, with participation from other investors.
– In August, Hyderabad-based interior design and home decor company Foyr raised $1 million from Astrac Ventures
– In July, online furniture marketplace Pepperfry raised $100 million in funding led by Goldman Sachs, with participation from Zodius Technology Fund and existing investors.
– Online home furnishing portal Bedbathmore.com had received an undisclosed amount in Series A funding from Blume Ventures in May 2013, while Zansaar raised $6 million from Accel Partners and Tiger Global in Feb 2012.
– Besides this, e-commerce ventures like Amazon India, Snapdeal, HomeShop18, Jabong and Infibeam also offer furniture products.