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Online furniture startup Homestudio raises $5M in seed funding

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HomestudioDeline Living India Pvt Ltd, which operates online furniture store Homestudio.com, has received $5 million (Rs 33.4 crore) in seed funding from real estate firm Bren Corporation.

In a statement, the Bangalore-based company said it will use the funds to ramp up technology, improve warehousing and delivery mechanism, and enhance customer experience.

Bangalore-based Bren Corporation, founded in 1973, executes projects in the residential, office and retail segments.

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"We see the Indian furniture market still nascent and non-organised. The market has not evolved with the changing needs of the Indian consumer exposed to global trends," said Alok Duggal, chief operating officer of Homestudio.

Founded in November, Homestudio is a furniture solutions provider that sources both finished and made-to-order products imported from Germany's Nolte group.

According to the statement, Homestudio will soon start sourcing furniture products from Italy.

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Currently operational only in Bangalore, Homestudio plans to expand its services to all the major cities within the next 12-18 months.

A number of online furniture startups have set up operations in India in recent years. These include HomeLane, FabFurnish, LivSpace and Pepperfry. Stitchwood and Woodenstreet operate in the custom-made furniture e-commerce segment.

Earlier this week, Hyderabad-based Hinshitsu Manufacturing Pvt Ltd, which runs custom-made furniture e-tailer Customfurnish.com, secured Rs 30 crore (about $4.5 million) in a fresh round of funding from Bangalore-based family office Agnus Capital.

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In April, Bangalore-based Urban Ladder Home Decor Solutions Pvt Ltd, which runs online furniture shop Urban Ladder, secured $50 million in a Series C round of funding led by Sequoia Capital and TR Capital. Existing investors Steadview Capital, SAIF Partners and Kalaari Capital also participated.


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