Sunday, September 25, 2022
HomeInsightFunding Alert Home decor startup Spacejoy raises $4 mn in funding led by...

[Funding alert] Home decor startup Spacejoy raises $4 mn in funding led by Accel

Home decor startup Spacejoy
Home decor startup Spacejoy

Home decor startup Spacejoy has raised $4 million in a funding round, led by Accel, TI Platform and TiE SoCal Angels, including angel investors, and real estate/prop-tech founders such as Larry Braitman, Venkat Tadanki, SquareFoot CEO Jonathan Wasserstrum, Jeroen Bertrams and Landis founders Cyril Berdugo and Tom Petit, also participated in the round.

Founded in 2019 by Arnab Saharoy and Vinay Indresh, Spacejoy has evolved into an e-commerce platform to help furnish homes.

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

Home decor startup Spacejoy is building the future of home designs by weaving art and interactive 3D technology to enable the joy of designing homes in simple and easy steps.

“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,” said Subrata Mitra, partner at Accel.

“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, 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,” Arnab Saharoy said.

According to the founders, the company is likely to clock 10x growth over the next 18 months.

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