Design Cafe has raised $28.5 Mn led by home-grown private equity firm WestBridge Capital in an equity financing round.
Bengaluru, 24 Dec, RedNewswire/-
DesignCafe was founded by award winning architects, Shezaan Bhojani & Gita Ramanan. It offers an online customised design and decor solution to consumers, currently operational in Bengaluru.
The newly raised funds will be used to geographically expand operations into six more regions including Mumbai, Delhi-NCR and Hyderabad. Existing investor Fireside Ventures also participated in the funding round.
“We are very pleased to have WestBridge, one of the leading PE investors in India, join the Design Cafe team. We are also excited to strengthen our already close relationship with existing investor Fireside Ventures, who is also participating in this round,” Bhojani said in the statement.
In July last year, the company had raised an undisclosed amount from Fireside, micro venture capital fund Sprout Capital, angel investor Siddharth Pansari, and founder of the Salarpuria group of companies Apurva Salarpuria.
Sandeep Singhal, managing partner of WestBridge Capital said, “We have been impressed with DesignCafe’s rapid scaling up and initial success. Their high customer satisfaction rate is an excellent achievement and is a testimony to the company’s deep domain expertise in this sector, hard work and good business judgment.”
“DesignCafe operates in a large white space and has built a solution that caters to a large target audience. Gita and Shezaan come with significant design experience which helps them understand consumer need better,” Fireside Ventures’ Singh said.
The lead investor WestBridge Capital which manages assets of about $2 billion was founded in 2000. In 2018, WestBridge invested in very few startups.