Wooden Street has Secured $43 million in Series C Round Funding

Wooden Street, a furniture and home decor brand, has raised Rs 354 crore ($43 million) in its Series C funding round from Premji Invest. Before this, the company raised $30 million from Westbridge in April 2022, bringing the total funding to $78 million.

Co-founder Dinesh Pratap Singh said the funds will be used to expand the business, open new stores in smaller cities, and improve their online and offline presence.

Funding Utilisation

In addition to funding, Premji Invest will provide Wooden Street with strategic guidance to help grow its business.

Founded in 2015, Wooden Street follows a company-owned, company-operated (COCO) model and has over 100 experience stores across India.

Read also - lenskart to Build World’s Largest Eyewear Manufacturing Unit in Telangana with ₹1,500 Crore Investment

The company operates both online and offline, with 102 experience stores, more than 20 warehouses, and a large manufacturing facility of 15 lakh sq ft across India.

For the fiscal year ending in March 2024, Wooden Street earned over Rs 260 crore in revenue, with losses of only Rs 10.9 crore.

Advertisment

About Wooden Street

Wooden Street is one of India's top online furniture stores, offering affordable luxury in home furniture and decor. The company aims to transform the way people shop for furniture and home decor.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.