Info-tech

WoodenStreet has raised $3 million in Series-A funding

Our Bureau Mumbai | Updated on June 02, 2020 Published on June 02, 2020

Jaipur-based online custom furniture platform WoodenStreet has raised $3 million in Series-A funding from IAN Fund and Rajasthan Venture Capital Funds (RVCF).

The company plans to use this investment to increase its footprint, both domestically and globally.

“The innovation by WoodenStreet to create a tech-enabled furniture buying experience for customers is commendable. It is important for us to look at start-ups which can innovate to sustain in these challenging times,” Saurabh Srivastava, Co-Founder at IAN Fund said.

“The transition of WoodenStreet is really impressive and we are confident that the team will continue to enhance its products and emerge as a leading player in the domain,” he added.

Co-founded in 2015 by Lokendra Ranawat, Dinesh Pratap Singh, Virendra Ranawat and Vikas Baheti, WoodenStreet launched as an online platform providing furniture and home accessories, and has now evolved into an omni-channel network spanning India with over 25 Experience Stores, online service and delivery centres in over 100 cities.

RVCF is an existing investor in WoodenStreet, having backed the company in 2018 with an investment of $1 million.

Published on June 02, 2020
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