Bengaluru-based home design and decor startup HomeLane has raised over ₹213 crores ($30 million) in a Series D round led by Evolvence India Fund (EIF), Pidilite Group and New York-based investment firm FJ Labs, reported ET.
For the transaction, the RainMaker Group acted as the financial advisor to HomeLane.
The fresh capital will be used to add renovation as a new category offering, boost technology infrastructure and expand presence to 8-10 more cities in India. The startup will also continue to invest in its virtual 3D design platform called SpaceCraft.
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 Bn home renovation market. Our focus on technology to improve both experience and efficiency for our consumers and design partners will continue, with significant investments in people and product.”
Founded by Rama Harinath, Srikanth Iyer, and Vivek Parasuram in 2014, HomeLane specialises in home interior designs and decor to help its clients create a personalised home based on their lifestyle. Through its presence across seven Indian cities, the startup claims to have completed over 5,500 homes.
With the latest funding, HomeLane has raised $46 million across all its funding rounds.