Udaipur-based online custom-furniture platform, WoodenStreet, has raised $1 Million in Series-A funding. The round was led by RVCF (Rajasthan Venture Capital Funds) and the investment was overseen by Growth India Fund.
WoodenStreet was founded in May 2015 by two brothers from Udaipur, Mr. Lokendra Ranawat and Mr. Virendra Ranawat, along with their friends, Mr. Dinesh Pratap Singh and Mr. Vikas Baheti.
At WoodenStreet, customers can either select from an existing catalog of pre-made designs, requesting modifications as per their requirements, or directly interact with highly specialized designers, who can understand their needs and ideas, to have something built entirely unique for them.
“Due to widespread diversity, every single home is different which is why we believe custom made & space saving furniture was just not a trend but the future, we wanted every customer to own furniture of their choice being in the most compact manner”- says, Lokendra Ranawat, Co-Founder Woodenstreet.com
With more than 200 employees and three years of functioning, the company has seen a profitable traction of 10,000 new visitors per day on their website. Delivering across 30 major cities in India, they have served more than 20,000 happy customers.
Through this round of investment, the company gets an opportunity to expand in new business verticals, such as Interior Designing services. This will enable them in modernizing and digitizing every space by providing an end-to-end e-commerce platform that will not only facilitate custom-made furniture but also cover the interior design sector.