#Asia Sofa so good: India’s CustomFurnish.com raises US$4.5 million


Led by serial entrepreneur Madhukar Gangadi, the company is hoping to expand outside of Bengaluru and Hyderabad

furniture cartoon final

CustomFurnish.com, a Hyderabad-based online custom furniture retailer, announced today it raised US$4.5 million in funding from Agnus Capital, as first reported by DealStreetAsia.

This is the second round of funding for the company, which was founded in early 2015. According to the report, the money will be used to expand across India — it currently only operates in Hyderabad and Bengaluru — and launch additional categories.

CustomFurnish.com has three manufacturing centres in Hyderabad where it builds various types of furniture.

“We are delighted to announce the second round of fundraising, which we plan to use for upgrading the technology base and strengthening our logistics to reach a wider customer base across the country,” said Founder and CEO Madhukar Gangadi.

Gangadi is a serial entrepreneur behind MedPlusmart.com — India’s largest e-pharmacy platform.

Also Read: 8 Indian apps that will make you a killer organiser

The service is exactly what one would expect from the namesake. For example, if one was to buy a customised kitchen, the website asks questions like the layout and floor area of the space, the materials used throughout and, of course, the piece of furniture.

Before launch, the company raised US$2.4 million in November 2014.

Agnus Capital is a Bangalore-based private equity and VC firm that does its fair share of startup investments. In April 2015, it invested in waste paper recycling startup Pastiwala.

Image Credit: David Teaman/Shutterstock

The post Sofa so good: India’s CustomFurnish.com raises US$4.5 million appeared first on e27.

from e27 http://ift.tt/1jJFYr9

This entry was posted in #Asia by Startup365. Bookmark the permalink.

About Startup365

Chaque jour nous vous présenterons une nouvelle Startup française ! Notre pays regorge de talents et d'entrepreneurs brillants ! Alors partons à la découverte des meilleures startup françaises ! Certaines d'entre elles sont dans une étape essentielle dans la vie d'une startup : la recherche de financement, notamment par le financement participatif (ou crowdfunding en anglais). Alors participez à cette grande aventure en leur faisant une petite donation ! Les startups françaises ont besoin de vous !