Design Cafe raises Rs 40 crore funding from WestBridge Capital, Mirabilis Investments
Startup company Design Café has raised Rs 40 crore, including contributions from venture debt fund Alteria Capital, Mirabilis Investment Trust, and private equity fund WestBridge Capital. This additional funding tops up its September 2021 $25 million round. A current investor in the startup is WestBridge Capital.
The creators of Design Cafe, Shezaan Bhojani and Gita Ramanan, together with Sixth Sense Ventures and other previous investors also took part in the most recent round. The funding round is a combination of equity and debt, with the majority of the funds coming from equity, co-founder Bhojani said without revealing the company's valuation. According to information obtained from the business intelligence platform Tracxn, Design Café was worth $96.5 million as of August 2022.
Competitors include Livspace, backed by Goldman Sachs, and Homelane, backed by Accel. In essence, Bhojani explained, "what we are doing is that it is an extension of the past round." "We are ensuring that the runway is 36 months. The goal is to have sufficient cash on hand until you start to turn a profit. He claimed that the business would turn a profit the following year and that it was already doing so in each of the nine places where it had operations.
The firm has two products: a high-end option that costs around Rs 8 lakh and a low-cost home interior option marketed under the name Qarpentri. "We are eager to spread Design Café and our newest brand, Qarpentri, throughout India. We have grown by more than 4 times in just six months since our inception, and we are even profitable, according to cofounder and CEO Ramanan.
Bhojani, the business is currently producing 200 crores of rupees in annualised revenue. "We have made great strides towards profitability over the past year. We now have much higher margins and are operationally profitable in all of the cities, according to Bhojani. "We continue to produce 60-70% CAGR (Compounded Annual Growth Rate) growth annually, and this round will enable us take both of our brands to newer markets throughout India."
The creators of Design Cafe, Shezaan Bhojani and Gita Ramanan, together with Sixth Sense Ventures and other previous investors also took part in the most recent round. The funding round is a combination of equity and debt, with the majority of the funds coming from equity, co-founder Bhojani said without revealing the company's valuation. According to information obtained from the business intelligence platform Tracxn, Design Café was worth $96.5 million as of August 2022.
Competitors include Livspace, backed by Goldman Sachs, and Homelane, backed by Accel. In essence, Bhojani explained, "what we are doing is that it is an extension of the past round." "We are ensuring that the runway is 36 months. The goal is to have sufficient cash on hand until you start to turn a profit. He claimed that the business would turn a profit the following year and that it was already doing so in each of the nine places where it had operations.
The firm has two products: a high-end option that costs around Rs 8 lakh and a low-cost home interior option marketed under the name Qarpentri. "We are eager to spread Design Café and our newest brand, Qarpentri, throughout India. We have grown by more than 4 times in just six months since our inception, and we are even profitable, according to cofounder and CEO Ramanan.
Bhojani, the business is currently producing 200 crores of rupees in annualised revenue. "We have made great strides towards profitability over the past year. We now have much higher margins and are operationally profitable in all of the cities, according to Bhojani. "We continue to produce 60-70% CAGR (Compounded Annual Growth Rate) growth annually, and this round will enable us take both of our brands to newer markets throughout India."
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