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A follow-on Series B round of funding of Rs 40 crore has been secured by the Bengaluru-based company DesignCafe for home interior solutions.
The round was led by renowned private equity firm WestBridge Capital and included venture debt fund Alteria Capital and Mirabilis Investment Trust, as per reported by BW Disrupt.
In addition to WestBridge Capital, Mirabilis Investment Trust, Alteria Capital, and Sixth Sense Ventures, DesignCafe's founders Shezaan Bhojani and Gita Ramanan also participated in the follow-on Series B funding round.
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"This round is an affirmation of the many decisions we have made to build a profitable and scalable business in the home interior and decor segment. In the last year, we have made significant progress towards profitability. Our margins have increased significantly and we are operationally profitable across all cities” Shezaan Bhojani, Co-founder and CEO, DesignCafe said.
“This round will help us take both our brands to newer markets across India, as we continue to deliver 60-70% CAGR growth annually. More importantly, with improving EBITDA numbers we expect to soon be profitable, it is with great confidence that we as founders also decided to re-invest in the company at this stage,” he added.
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DesignCafe was founded in 2015 by Shezaan Bhojani and Gita Ramanan to democratize great home interior design and provide Indian homeowners with a hassle-free and affordable experience. The company has since expanded its operations to ten Indian cities and is rapidly growing in popularity.
“With the continued support of our existing investors and interest from new partners combined with the hard work and passion of the team at DesignCafe, we have been able to take our offering across India to over 10,000 homeowners, " Gita Ramanan, DesignCafe commented.
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About DesignCafe
Bangalore-based DesignCafe, a well-known soonicorn and one of India's top providers of solutions for home interior designs, has expanded to include more than ten Indian cities.
To make quality interior design solutions accessible to Indian homemakers from the middle class, DesignCafe was established. They feel that Indian homeowners deserve the best in the world and that DesignCafe will lead the charge in providing it. To make sure that this shift is available to everyone, regardless of their project's size, price, or location, DesignCafe is growing its reach across the nation.
