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CustomFurnish.com, an e-commerce venture that lets users design furniture to suit their requirements, has raised second round funding of Rs 30 crore from the Bengaluru-based fund Agnus Capital. Besides expanding to four other metros, the firm is planning to set up a manufacturing facility in Delhi.
“We plan to use the funds for upgrading the technology base and strengthening our logistics to reach a wider customer-base across the country,” Madhukar Gangadi, founder and Chief Executive Officer of CustomFurnish.com, said.
The firm, which offers its services in Hyderabad and Bengaluru, is planning to expand its presence in Delhi, Mumbai, Chennai and Kolkata this financial year. It operates three manufacturing facilities in Hyderabad where it manufactures kitchen cabinets, wardrobes, sofas, and custom curtains.
“We are going to set up a manufacturing facility in Delhi in three to six months. This will cater to the market in the northern India. We are scouting for land there to establish the facility,” Madhukar, who also founded MedPlus, the pharma chain with about 1,300 outlets, told BusinessLine.
In the first round closed in November 2014, the firm raised Rs 16 crore for this venture from a group of investors including Dr Reddy’s Laboratories’ Satish Reddy, Peepul Capital founder Srini Raju, and serial entrepreneur Srini Koppolu.
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