Spacewood Furnishers raises Rs 300 crore from A91 Partners

Spacewood Furnishers, a modular furniture maker, has raised Rs 300 crore ($33.8 million) funding from A91 Partners, a private equity firm, to expand faster and improve its operations.

The investment values the Nagpur-based company at about Rs 1,200 crore and gives A91 Partners a significant minority share.

Read also- Space tech startup Ulook raises Rs 19 crore in round

With the new funding, Spacewood plans to upgrade its technology, increase automation, and hire more talent to boost profitability. The company will also invest in advanced manufacturing and product innovation to meet growing demand from design-focused customers, especially in the modular kitchen and workspace segments.

“We are excited to have A91 Partners on board. Beyond capital, they bring deep experience in scaling consumer brands, which will be invaluable as we embark on our next growth phase,” Co-founder and Director Kirit Joshi said.

“We are looking forward to the opportunity to partner with Kirit, Vivek, and Nitin in further building a dominant company in the large and growing market of home and office improvement,” added Abhay Pandey, Partner at A91 Partners.

About Spacewood Furnishers

Founded in 1996 by Kirit Joshi and Vivek Deshpande, Spacewood makes modular kitchens, wardrobes, home furniture, and pre-hung doors. In 2011, it entered the office furniture market through Spacewood Office Solutions, led by Nitin Sudame. The company expects to earn around Rs 700 crore in revenue in FY26.

Spacewood operates a 1-million-square-foot manufacturing facility and has over 35 exclusive stores in more than 20 cities, supported by a network of 500 dealers across 150 towns. The company plans to grow to 100 stores in the coming years and boost its online presence through platforms like Amazon and pepperfry.

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Its enterprise division serves major clients such as Accenture, Capgemini, HDFC, and the Adani Group, along with developers like Godrej Properties, DLF, Lodha, and M3M.

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