Online decor firm Design Cafe raises funding from WestBridge, others
Bengaluru-based GS E-Commerce Pvt. Ltd, which operates online decor firm Design Cafe, has raised Rs 200 crore ($28.5 million) in an institutional round of funding led by homegrown private equity firm WestBridge Capital.
In a note, the company said that existing investor Fireside Ventures also participated in this round. The latest round of funding will be used to geographically expand operations into six more regions including Mumbai, Delhi-NCR and Hyderabad.
In July last year, the company had raised an undisclosed amount from Fireside, micro venture capital fund Sprout Capital, angel investor Siddharth Pansari, and founder of the Salarpuria group of companies Apurva Salarpuria.
Design Cafe was founded by architect-cum-designer duo Shezan Bhojani and Gita Ramanan in 2011. Both the founders are architecture graduates from the BMS College of Engineering, Bengaluru. The company offers decor solutions to homes ranging in size from 1,000-2,000 square feet.
Besides an online platform for providing solutions, the company also owns an experience centre in Bengaluru, according to its website.
The broader home-improvement sector has seen some significant activity.
Earlier this month, online furniture marketplace Pepperfry launched its home interior design solution service in Mumbai, Bengaluru and Gurugram.
Also, in December, mattress maker Wakefit Innovations Pvt. Ltd raised Rs 65 crore ($9 million then) in a Series A round of funding from venture capital firm Sequoia Capital.
In October, GoZefo, an online marketplace for second-hand goods, raised around Rs 21 crore (close to $3 million) in a fresh round of funding by New York-based FJ Labs, co-founded by OLX co-founder Fabrice Grinda.
The startup offers appliances such as televisions, refrigerators, washing machines and microwave ovens, and furniture products including beds, sofas and dining tables.
In September, online furniture rental startup Furlenco raised its Series C round of funding led by United Arab Emirates (UAE)-based venture firm Crescent Enterprises Ventures.
In the same month, Bengaluru-based online home decor startup Livspace raised $70 million (around Rs 500 crore then) in a Series C round of funding led by private equity firm TPG Growth and investment bank Goldman Sachs.