Home Decor Startup Spacejoy Raises $4 Million In Funding
Spacejoy, a home decor and furniture eCommerce platform, has raised $4 million in a funding round led by Accel. The funding round also saw participation from TI Platform and TiE SoCal Angels, including angel investors and real estate/prop-tech founders, such as Venkat Tadanki, Larry Braitman, SquareFoot CEO Jonathan Wasserstrum, Jeroen Bertrams, and Landis founders Cyril Berdugo and Tom Petit.
As per the startup, the new financing will allow it to continue to capitalize on a fast-growing market, support the development of its core platform and strengthen AI technology for product discovery. Additionally, The new investment and partnership will allow the startup to scale the business and reach new customers in the US.
Spacejoy | Automated Interior Design Platform
Founded by Arnab Saharoy and Vinay Indresh in 2019, Spacejoy is an Accel-funded startup building the future of home designs by weaving art and interactive 3D technology to enable the joy of designing homes in simple and easy steps.
The startup has evolved into an e-commerce platform to help furnish homes. Using 3D tech and AI, the home decor and furniture eCommerce platform personalizes the entire shopping experience by simplifying how users discover products and visualize them in a room.
Speaking about the platform, Subrata Mitra, Partner at Accel, said,
“Spacejoy wants to disrupt this industry using its interactive technology that democratizes the home design process. It enables consumers to visualize their home in real-time and allows them to shop relevant furniture directly from such designs.”
As per Arnab Saharoy, Spacejoy’s design-led platform enables users to identify products by the source of inspiration and find curated products that work well together both aesthetically and functionally.
The startup’s annualised revenue run rate has jumped 10x in the last 24 months to $5 million. As per the founders, Spacejoy is likely to clock 10x growth over the next 18 months.
Need legal assistance for your startup? Just contact us.
Follow us and connect with us on Instagram, Facebook, Twitter and LinkedIn.