Udit
HomeLane, the interior design solutions marketplace owned by the Bangalore based Homevista Décor and Furnishings, has now secured $30 million in the growth funding round led by the Evolvence India Fund, FJ Labs and Pidilite Group.
Some of the existing investors Sequoia India, JSW Ventures, Accel participated in the round, said the announcement.
The latest funding round takes the total capital secured by the startup to $46 million.
HomeLane will now be going to use the capital in growth round to propel its next phase of growth, which even includes the launch of renovation as a category, scale the design to manufacturing platform to include more designers, installers and vendors, and to expand its presence to around ten new cities in the entire country.
“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,” Homelane founder and CEO Srikanth Iyer said.