CustomFurnish, an eCommerce firm for furniture and home furnishing products, has raised $4.49 Million (Rs. 30 crore) in new round of funding from Bangalore based family office Agnus Capital. This is the second time, the Hyderabad based startup, founded by Madhukar Gangadi has raised fund in eight months.
Furniture and home furnishing startup is planning to use this fresh fund for strengthening its logistics and technology. The startup allows customers to share their furniture requirements and get customized product based on their preference.
As of now, CustomFurnish.com operates in Hyderabad and Bengaluru, but the company is planning to expand its services to other four major cities in India. It has three manufacturing unit in Hyderabad, where it makes home furnishing items in different categories including Kitchen, sofas, wardrobe and customs curtains.
The company had also raised $2.4 Million earlier from group of investors that includes Satish Reddy, Chairman, Dr. Reddy’s Laboratories, Srini Raju, Founder, Peepul Capital, Srini Koppolu, Founder, Hyderabad Angels and Anil Chalamshetty of Greenko group and Vamsi Krishna of Hetero group.
Currently, CustomFurnish faces competition from other home furnishing firms like HomeLane, LivSpace, Urban Ladder, FabFurnish, Pepperfry and others. There are two other firms Stitchwood and Woodenstreet , that are also eCommerce space for customized furniture.