New Delhi, Dec 23 (IANS) Interior designing company HomeLane has raised $30 million in a Series D funding round led by Evolvence India Fund (EIF), Pidilite Group and FJ Labs.
The other participants in the funding round were Sequoia Capital, Accel Partners and JSW Ventures, a statement from HomeLane said on Monday. With the latest round of funding, total funds raised by HomeLane stands at $46 million.
“HomeLane will use the funds for its next phase of growth, which will include launching renovation as a category, scaling its proprietary design-to-manufacturing platform to more designers, vendors and installers and expanding to 8-10 new cities in India,” it said.
Commenting on this development, Srikanth Iyer, Founder and CEO, HomeLane, said: “With this investment, we will accelerate our expansion into newer markets, while further penetrating our current ones. We will also build a world-class offering for the $12 billion home renovation market.”
Founded in 2014, the web-based interior design firm has presence in Bengaluru, Chennai, Hyderabad, Mumbai, Kolkata, Pune and the National Capital Region.