Spacejoy, an ecommerce platform for home decor and furnishings, has raised $4 million in a fundraising round headed by Accel.

The round was also attended by TI Platform and TiE SoCal Angels, as well as real estate/proptech founders Larry Braitman, Venkat Tadanki, SquareFoot CEO Jonathan Wasserstrum, Jeroen Bertrams, and Landis founders Cyril Berdugo and Tom Petit, according to the company.

“The new financing will allow Spacejoy to continue to capitalise on a fast-growing market, support the development of its core platform and strengthen AI technology for product discovery,” said Arnab Saharoy, cofounder and CEO of Spacejoy. “This new investment and partnership will allow us to scale the business and reach new customers in the US.”

Spacejoy is an e-commerce platform that helps people furnish their homes. It was founded in 2019 by Saharoy and Vinay Indresh. Spacejoy personalises the entire shopping experience by streamlining how customers discover products and view them in a room using 3D technology and AI.

“Spacejoy’s design-led platform enables users to identify products by the source of inspiration and find curated products that work well together both aesthetically and functionally,” said Saharoy.

The company has a large IT staff in India and is trying to expand its workforce.

“We will focus on the US as well as the English-speaking markets for the next two to three years and then think of expanding to other markets,” he said.

The global online furniture e-commerce space, according to the company, has recently accelerated.

In the last 24 months, Spacejoy's annualised revenue run rate has increased by tenfold to $5 million.

The company is expected to grow 10 times in the following 18 months, according to the founders.

“Spacejoy wants to disrupt this industry using its interactive technology that democratizes the home design process. It enables consumers to visualize their home in real-time and allows them to shop relevant furniture directly from such designs,” says Subrata Mitra, partner at Accel.