Within eight months of its formal launch, Hyderabad-based CustomFurnish.com, a vertically integrated e-commerce venture in the furniture and home furnishing space, has raised INR 30 cr in a fresh round of funding from Bengaluru-based Agnus Capital.
This is the company’s second round of funding. It raised INR 16 crore in a first round of funding in November 14 from a clutch of investors, including, Satish Reddy, Chairman, Dr. Reddy’s Laboratories; Srini Raju, Founder, Peepul Capital; Anil Chalamshetty of Greenko group, among others.
The company plans to use the fresh funds to expand its services to four more cities — Chennai, New Delhi, Kolkata and Mumbai– and launch new categories.
“We plan to use this second round of funds for upgrading the technology base and strengthening our logistics to reach a wider customer-base across the country,” Madhukar Gangadi, Founder & CEO, CustomFurnish.com said.
Launched in early 2015, CustomFurnish is a vertically integrated e-com venture that allows customers to design their furniture online, either from scratch or by modifying an existing template. At present, the company is available in Hyderabad, and Bengaluru.
The company also operates three manufacturing facilities in Hyderabad from where it manufactures kitchen cabinets, wardrobes, sofas and custom curtains.