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Home interiors start-up, HomeLane, announced its S eries D funding round of $30 million, led by new investors Evolvence India Fund (EIF), Pidilite Group and FJ Labs, with participation from Sequoia Capital, Accel Partners and JSW Ventures. With the current round, the total funding raised by HomeLane stands at $46 million.
HomeLane will use the funds for its next phase of growth, which will include launching renovation as a category; scaling its proprietary design-to-manufacturing platform to more designers, vendors and installers; and expanding to 8-10 new cities in India.
SpaceCraft, HomeLane’s virtual 3D design platform, will continue to see further investment with the team leveraging AI/ML and augmented reality to deliver near-real experience to home owners.
Expand to new markets
“This latest round of investment is a testament of our investors’ belief in our vision of making interiors easy. We are also delighted and grateful to have aboard three prominent new investors, who have chosen to partner with us on our growth story. With this investment, we will accelerate our expansion into newer markets, while further penetrating our current ones, We will also build a world-class offering for the $12 billion home renovation market.
“Our focus on technology to improve both experience and efficiency for our consumers and design partners will continue,” said Srikanth Iyer, Founder & CEO, HomeLane.
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