Furniture retailer 'Furnishka' lifts Rs.27 crore in Pre-Series A
Ganesh Pawar established furniture store, Furnishka in 2023. The startup successfully closes IndiaQuotient-led Pre-Series A funding round that raised Rs.27 crore. By this round, the company increasing its total funding to Rs.45 crore.
Sparrow Capital and angel investors such as Ramakant Sharma and Sujeet Kumar, who co-founded Udaan, also participated in the significant funding round.
The additional capital will be infused toward improving product research and design, strengthening supply chain & manufacturing capabilities, and expanding to new areas.
Furnishka promises to streamline the India’s complex home furnishing business by tackling the vital challenges such as long delivery delays, exorbitant charges, and variable service quality.
It provides a seamless buying experience with over 1,000 SKUs, customizable designs at affordable pricing, and both online and offline storefronts in Bengaluru.
Industry study suggests that the Indian furniture industry is anticipated to increase from $24.47 billion in 2023 to $64.39 billion by the year 2032, with a CAGR of 11.35% from 2024 to 2032.
In order to provide high-quality furniture at a reasonable price, Furnishka has concentrated on standardization, cost reduction, localization, and supply chain innovation. In just one year, the business has provided services to more than 10,000 clients and has four expansive storefronts in Bangalore that feature a broad selection of goods.
Furnishka's future goals include opening six more large-format stores, diversifying its product offering to include more luxury living room, dining room, and bedroom collections, and producing instructional content to assist consumers in making well-informed furnishing selections. In order to accommodate a wide range of preferences and needs, the organization provides thousands of customization possibilities.
Commenting on the innovative offerings of the brand, Ganesh Pawar, Founder of Furnishka, states, “Supply chain optimization is the need of the hour to keep pace with the evolving customer demand. Our effective supply chain management of standardizing components and localization of production have helped significantly reduce operational costs without compromising on quality while meeting the promised delivery time. This enables us to offer entry-level products at 20% below market average and premium offerings at 30-40% less than competitors. As a result, we’ve achieved high customer satisfaction, leading to repeat purchases and referrals through word-of-mouth.”
.jpg "Team Startupcity")
Sparrow Capital and angel investors such as Ramakant Sharma and Sujeet Kumar, who co-founded Udaan, also participated in the significant funding round.
The additional capital will be infused toward improving product research and design, strengthening supply chain & manufacturing capabilities, and expanding to new areas.
Furnishka promises to streamline the India’s complex home furnishing business by tackling the vital challenges such as long delivery delays, exorbitant charges, and variable service quality.
It provides a seamless buying experience with over 1,000 SKUs, customizable designs at affordable pricing, and both online and offline storefronts in Bengaluru.
Industry study suggests that the Indian furniture industry is anticipated to increase from $24.47 billion in 2023 to $64.39 billion by the year 2032, with a CAGR of 11.35% from 2024 to 2032.
In order to provide high-quality furniture at a reasonable price, Furnishka has concentrated on standardization, cost reduction, localization, and supply chain innovation. In just one year, the business has provided services to more than 10,000 clients and has four expansive storefronts in Bangalore that feature a broad selection of goods.
Furnishka's future goals include opening six more large-format stores, diversifying its product offering to include more luxury living room, dining room, and bedroom collections, and producing instructional content to assist consumers in making well-informed furnishing selections. In order to accommodate a wide range of preferences and needs, the organization provides thousands of customization possibilities.
Commenting on the innovative offerings of the brand, Ganesh Pawar, Founder of Furnishka, states, “Supply chain optimization is the need of the hour to keep pace with the evolving customer demand. Our effective supply chain management of standardizing components and localization of production have helped significantly reduce operational costs without compromising on quality while meeting the promised delivery time. This enables us to offer entry-level products at 20% below market average and premium offerings at 30-40% less than competitors. As a result, we’ve achieved high customer satisfaction, leading to repeat purchases and referrals through word-of-mouth.”
.jpg "Mavyn: Revolutionizing Logistics with Digital Transformation in Transportation")
.jpg "Every Innovation Begins with Startups")
