Homevista Decor and Furnishing Pvt Ltd, which runs a furniture company HomeLane, is now planning to expand in two new cities, including Kolkata and Pune. They will invest around ₹15 crore for expansion, as per the company statement.
The startup will aim to connect with 1,000 homes in both cities in the next year and will add 200 new interior designers in these cities. Founded in 2014 by Rama Harinath, Srikanth Iyer, and Vivek Parasuram, the startup currently claims to have delivered over 3,900 projects in cities, including Bangalore, Chennai, Hyderabad, Mumbai, and the National Capital Region (NCR).
The startup also provides design modules for kitchen spaces, bedrooms, and other furniture sets such as wardrobes, storage units, and study tables to homeowners.
“We have been noticing huge demand among design conscious new homeowners in both Pune and Kolkata and we are expecting a huge volume of business coming from these two cities. We had closed 2018-19 with an ARR of 400% higher than last year and expect to double the number by the end of this year,” said the founder Srikant Iyer.
HomeLane has raised about $65 million in venture funding from investors such as Accel Partners, Sequoia Capital, Aarin, Growth Story and Baring PE.