Online modular kitchen furnishing provider, CapriCoast has raised $3.5 million in a Series A round led by existing investors Accel Partners India and RB Investments.
CapriCoast will used the fresh funds to accelerate product development and to expand its sales, marketing and hiring efforts, the company said in a statement.
“CapriCoast is leveling the playing field for the highly-fragmented and unorganized modular furnishing market in India. Our online-to-offline (O2O) marketplace model addresses the problems that customers face today while buying modular furnishing – obfuscated pricing, delayed delivery, limited choice and lack of transparency,” Jawad Ayaz, founder and CEO, CapriCoast.com, said.
“CapriCoast is pioneering a data science led, transformative technology that is rapidly changing the way customers experience buying modular furnishing in India,” he added.
The company had earlier raised $1.25 million (approx. Rs 8 crore) in seed funding from Accel Partners India.
CapriCoast.com is working with 50 showrooms across 15 cities in India and aims to be in 200-plus showrooms across more than 50 cities by early 2016.
Along with 1,000-plus pre-designed kitchens, CapriCoast offers an online 3D catalogue besides customization tools.