Jaipur-based online Furniture & home decor company Woodenstreet has raised around $30 million in series-B funding at Rs 1200 crore ($157 million) valuation. This funding round was led by WestBridge Capital.
WoodenStreet was founded by Lokendra Singh Ranawat, Virendra Ranawat, Dinesh Singh Rathore, and Vikas Baheti back in 2015. The platform also runs 50 plus experience stores in all major cities across the country and boasts over 15 lac customers. The company plans to double its on-ground presence this year.
Co-founder and CEO of the company Mr. Lokendra Ranawat said- “Our aim has always been to offer products that improve the aesthetics and comfort of Indian homes. We focus on design and innovation, enabling functional and designer items at an affordable price. We are happy to welcome WestBridge Capital, which shares our common vision of creating better products and awesome shopping experiences for Indian customers.”
The company offers complete home solutions including solid wood & modular furniture, kitchen & wardrobe, home décor, lighting, and more. It has 6 states of the art manufacturing and R&D facilities.
WoodenStreet is on positive growth. back in January, it said to increase its on-ground presence by adding more stores and promises to introduce new products in the market. It also aimed to generate around Rs 600 crore in revenue.
The company previously raised $3 million in a Series A round led by IAN Fund and Rajasthan Venture Capital Funds (RVCF) in June 2022 at a valuation of $18 million.
