Bengaluru-based DesignCafe Raises Rs 40 Cr In Series B Round
DesignCafe, a Bengaluru-based home interior solutions brand, has raised Rs 40 crore in a follow-on Series B round of funding.
The funding round was led by marquee private equity fund WestBridge Capital, Mirabilis Investment Trust, along with venture debt fund Alteria Capital. Existing investors Sixth Sense Ventures, as well as DesignCafe’s founders Shezaan Bhojani and Gita Ramanan, also participated in the funding round.
DesignCafe | Home Interior Solutions
Founded by Shezaan Bhojani and Gita Ramanan, DesignCafe is a Bengaluru-based home interior solutions brand. The firm was launched in 2015 with a mission to democratise great home interior design and provide a hassle-free and affordable experience to Indian homeowners.
Speaking about the development, Shezaan Bhojani, Co-founder and CEO of DesignCafe, said,
“This round is an affirmation of the many decisions we have made to build a profitable and scalable business in the home interior and decor segment. In the last year, we have made significant progress towards profitability. Our margins have increased significantly, and we are operationally profitable across all cities.”
Currently, the Bengaluru-based firm is operational in ten Indian cities and is rapidly expanding. On the growth of the brand, Shezaan added,
“This round will help us take both our brands to newer markets across India, as we continue to deliver 60-70% CAGR growth annually. More importantly, with improving EBITDA numbers, we expect to soon be profitable, it is with great confidence that we as founders also decided to re-invest in the company at this stage.”
Despite the funding winter, several startups across categories managed to raise funds. Recently, The Souled Store, a Mumbai-based lifestyle and fan merchandise startup, raised Rs 135 crore ($16.4 million approx) in a Series C funding round.
Gurugram-based fashion supply chain startup Fashinza raised $30 million in funding from Mars Growth Capital and Liquidity Group to support working capital requirements to expand into the US, Gulf, and Europe. Also, Mystifly, an air retailing and payments platform, closed its pre-Series B funding round at $8 Mn with fresh investment.
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