WoodenStreet revealed that it had secured $3 million in a Series A funding round backed by the IAN Fund and Rajasthan Venture Capital Funds.
The startup said that it has plans to use the new funds to increase its footprint, both domestically and across the globe.
With the help of this new investment, WoodenStreet sees itself as an emerging global home décor brand, with more than 50 years of experience stores across the globe.
WoodenStreet is cofounded by the Lokendra Ranawat, Dinesh Pratap Singh, Virendra Ranawat, and Vikas Baheti in the year 2015. It launched as an online platform providing home and furniture accessories and has now evolved into an Omni channel network, spanning across India, with more than 25 years of experience stores, a robust online service and delivery centers in more than 100 cities.
“We are very excited about this new partnership with IAN Fund. Along with an unparalleled network and domain expertise, IAN Fund brings with it a new level of mentorship that we expect will guide us in working towards a better, larger perspective,” Lokendra said.