WoodenStreet Raises Around $30 Million In Series B Funding, Led By WestBridge Capital The fund will be utilised to expand the market, develop the technology and create new category offerings
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
WoodenStreet, a Jaipur-based online furniture and home decor platform, has raised around $30 million in Series B funding round led by WestBridge Capital at INR 1200 crore valuation through a mix of primary and secondary investment. The fund will be utilised to expand the market, develop the technology and create new category offerings.
"We focus on design and innovation, enabling functional and designer items at an affordable price. We are happy to welcome WestBridge Capital, who shares the common vision of creating better products and awesome shopping experiences for Indian customers," said Lokendra Ranawat, co-founder and CEO, WoodenStreet.
Founded in 2015 by Lokendra Singh Ranawat, Virendra Ranawat, Dinesh Singh Rathore and Vikas Baheti, WoodenStreet has more than 50 stores in all major cities and claims to serve more than 15 lakh customers in more than 300 cities in India. It also operates 6 state of art manufacturing spread across the country to meet their growing needs.
"We are impressed by WoodenStreet's ability to scale capital efficiently in a strategic consumer category. The founders focus on customer delight is what excites us and we look forward to a very long partnership with them," said Sandeep Singhal, co-founder, WestBridge Capital.