Bengaluru-based home interior startup DesignCafe has raised Rs 40 crore or $4.8 million as part of its Series B funding round led by WestBridge Capital, Mirabilis Investment Trust, venture debt fund Alteria Capital, and existing investor Sixth Sense Ventures.
Founded in October 2015 by Gita Ramanan and Shezaan Bhojani, DesignCafe, which has a factory in Bengaluru, provides interior and home decor for customers.
With this raised capital, DesignCafe said it would focus on expanding the geographical footprint of its brands — DesignCafe and Qarpentri.
“This round will help us take both our brands to newer markets across India as we continue to deliver 60-70% CAGR growth annually, said Shezaan Bhojani, Co-founder & CEO of DesignCafe.
He also said the startup expects to become profitable soon with improving EBITDA numbers.
“This round is an affirmation of the many decisions we have made to build a profitable and scalable business in the home interior and decor segment. In the last year, we have made significant progress towards profitability. Our margins have increased significantly and we are operationally profitable across all cities,” Shezaan Bhojani added.
Currently, DesignCafe operates in 10 stores in Bangalore, and one each in Hyderabad and Pune, and will expand to Chennai, and Mumbai.
Source @Indianstartupnews
