CustomFurnish.com gets Rs. 30 crore funding from Agnus capitalHyderabad, India | Red Newswire | Dec 7, 2015 Last Updated at 6.56 PM IST.
CustomFurnish.com, a hyderbad – based startup has raised Rs. 30 crore funding from Agnus Capital of Bangalore. This is second funding raised by the furniture portal which is promoted by Madhukar Gangadi, who also founded the MedPlusmart.com. the sole advisor for this funding was o3 Capital.
Gangadi said, “"We plan to use the money for upgrading technology base and strengthening our logistics to reach a wider customer-base across the country."
Presently the furniture e-retailer offers services in Hyderabad and Bengaluru only but, plans to expand to other four major cities too. The company has 3 manufacturing facilities set up in Hyderabad from where it supplies Wardrobes, sofas, kitchen cabinets as well as curtains.
Last year, the company raised Rs. 16 crore from Satish Reddy (Chairman, Reddy laboratories), Srini Koppolu (founder, Hyderabad Angels), Anil Chalamshetty (Greenko Group), Vamsi Krishna (Hetero Group) and Srini Raju (founder, Peepul Capital).
CustomFurnish gives its customers an opportunity to design their own furniture using templates or from scratch. The software allows customers to pick design and material of their choice and get an instant quote.
Source: ET Bureau