After raising $10 million last December, HomeLane.com, India’s leading online home interiors brand today announced that it has raised fresh Rs 24 Crores from Brand Capital, the strategic investment arm of the media giant Bennett, Coleman and Co. Ltd (the Times Group) in a fresh round of funding. The startup will deploy the funds to fuel expansion and brand strengthening to attract customers. HomeLane counts Accel Partners, Sequoia Capital, Baring PE, Aarin Capital, GrowthStory & RB Investments as it’s investors.
Srikanth Iyer, co-founder and CEO of HomeLane.com said, “With HomeLane, our goal is to offer our customers a smoother and more streamlined home designing experience enabled by technology. We have been working towards offering Indian homebuyers an unbeatable combination of transparency and predictability, which is unheard of in this largely unorganized business. We are scaling up well and our association with Brand Capital will help us further enhance our brand and channelize our national expansion plans.”
Homelane operates in Bengaluru, Chennai, Hyderabad, Mumbai and Delhi-NCR. The company will be doubling the number of experience centers in existing markets by end of this year and is looking to achieve Rs 200 crore in run-rate by March 2019.
Sam Subramaniam, CEO, Brand Capital, said, “Homelane addresses a key gap and need in the market for home buyers in a seamless and efficient way. The continued growth in and attraction to private home ownership will propel Homelane’s market strongly over the coming decade. Brand Capital is proud to be partnered with Homelane and it’s impressive investor group.”
HomeLane.com is a pioneer in the organized online home furnishing market and offers an industry-first 45-day delivery guarantee for fit-outs. HomeLane’s value proposition is solving the interior design problem with technology and predictable timelines.
Founded in 2014 by Rama Harinath, Srikanth Iyer and Vivek Parasuram, HomeLane.com is India’s #1 online provider of home fit-out solutions. With presence in Bangalore, Chennai, Hyderabad, Mumbai and NCR, HomeLane.com has established itself as a key enabler for homeowners in furnishing their dream home. HomeLane.com already delivered 2500 projects since inception