WoodenStreet, a Jaipur-based online furniture store offering custom and ready-made furniture directly to customer’s doorstep, announced that it has raised $3 million in Series-A funding from IAN Fund and Rajasthan Venture Capital Funds (RVCF).
The company will utilise the funds infusion to boost expansion. It has plans to increase its footprint, both domestically and globally.
“The innovation by WoodenStreet to create a tech-enabled furniture buying experience for customers is commendable. It is important for us to look at start-ups which can innovate to sustain in these challenging times,” Saurabh Srivastava, Co-Founder at IAN Fund said.
“The transition of WoodenStreet is really impressive and we are confident that the team will continue to enhance its products and emerge as a leading player in the domain,” he added.
Earlier in 2018, the company had raised $1 million from Rajasthan Venture Capital Funds (RVCF).
Co-founded in 2015 by Lokendra Ranawat, Dinesh Pratap Singh, Virendra Ranawat and Vikas Baheti, WoodenStreet launched as an online platform providing furniture and home accessories, and has now evolved into an omni-channel network spanning India with over 25 Experience Stores, online service and delivery centres in over 100 cities. Wooden Street has more than 8000+ products in store and 50,000+ customers.
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