Online interior decor startup Design Cafe raises $3.6 mn from returning investors

Online interior decor startup Design Cafe raises $3.6 mn from returning investors
Photo Credit: Pexels
4 Jun, 2020

Bengaluru-based GS E-Commerce, which owns and runs online interior design platform Design Cafe, raised about $3.6 million in internal funding round late May, according to a regulatory filing made on Tuesday.

Returning investors WestBridge Capital and Fireside Ventures participated in the Series B round in exchange for a total of 3,760 preference shares.

Post deal, WestBridge holds about 51% stake of the company while Fireside holds about 20%.

With the current infusion, the company has raised $32.24 million, according to VCCEdge data on previous investments. The company had last raised its largest round of $28.5 million two years ago.

The company will use the funds to expand its operations.

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 nationwide lockdown due to Covid-19 has affected the interior decoration startup ecosystem in India. IKEA-backed startup Livspace recently laid off 450 employees, or 15% of its total workforce, last month, to tide over the crisis.

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