Indian furniture and home decor brand Wooden Street has successfully raised ₹354 crores (approximately $43 million) in its Series C funding round, led by Premji Invest, according to media reports. This funding marks one of the largest investments in the home and furniture sector in recent years, underscoring the growing potential of this market in India.
A Rising Star in India’s Furniture Industry
Founded in 2015 by Lokendra Ranawat, Virendra Ranawat, Dinesh Pratap Singh, and Vikas Baheti, Wooden Street has rapidly grown to become a leading player in the Indian furniture market. The company boasts:
- 100+ experience stores across India.
- 20+ warehouses ensuring efficient inventory management.
- A 15 lakh sq ft manufacturing facility catering to in-house production needs.
The fresh capital will enable Wooden Street to:
- Expand its retail footprint by launching more experience stores across key locations.
- Enhance manufacturing capabilities to meet the growing demand for high-quality furniture.
- Diversify its product portfolio, offering a wider range of options for customers.
Riding the Wave of India’s Growing Furniture Market
India’s furniture market is on an upward trajectory, driven by urbanization and increasing disposable incomes. Wooden Street’s unique business model—featuring a vertically integrated supply chain, in-house manufacturing, and exclusive retail outlets—positions it to tap into this burgeoning demand effectively.
The involvement of Premji Invest, a global investment firm with a track record of backing high-growth companies, will provide the resources and expertise needed for Wooden Street to strengthen its omni-channel presence and optimize its supply chain operations.
A Solidified Market Leader
With this funding round, Wooden Street has raised a total of approximately $35 million to date, reinforcing its position as a leading player in the home decor and furniture segment in India. The company’s strategic focus on innovation, quality, and customer experience ensures that it remains well-poised to capitalize on the growing opportunities in this space.
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