Sequoia leads $4.5m round for Indian interior design start-up HomeLane
Sequoia Capital has led a $4.5 million Series A round of funding for HomeLane, a Bangalore-based interior design company, with participation from Aarin Capital.
HomeLane was set up in the mid of 2014 by Srikanth Iyer and Rama Harinath. The company uses its online platform to help home owners furnish and install furniture in their new apartment.
In addition to selling different furniture items such as wardrobes, TV cabinets, kitchen units and shoe rack through online platform, it also allows customers to order customized furniture.
Users can also upload floor plans which are then reviewed by HomeLane's interior design team to generate product suggestions, prices quotes and 3D pictures to help customers visualize how their decorated home will look.
The founders told Tech Crunch that the home set-up market is already worth $10 billion per year in the 10 biggest Indian cities. It's expected to be growing at a 20% compound annual growth rate.
The start-up will use the new funds to expand to ten more cities in India, improve its technology and marketing.
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