HomeLane raises Rs 33 cr from JSW Ventures, Accel Partners, Sequoia

HomeLane, an online interior décor start-up, has raised bridge capital of Rs 33 crore from existing investors ahead of a larger series D round currently in works, a top company executive said.

Existing investors JSW Ventures, Accel Partners and Sequoia Capital invested in the round. This follows a $10 million fund-raise led by Accel Partners in 2017. 

“HomeLane is in talks with new potential investors for a larger round… this may culminate in six months,” chief executive officer Srikanth Iyer said. The fresh funds are planned for geographic expansion and launching new experience centers across cities.

HomeLane provides end-to-end interior design solutions, which includes modular kitchen setups, wardrobes and storage units, paintings and beds. The services combines an online and offline work, as customers engage with HomeLane designers and finalize designs over its web platform.

HomeLane, which competes with Bessemer Venture-backed LivSpace, currently operates in Bengaluru Chennai, Hyderabad, Mumbai and the National Capital Region. The company is expected to close current financial year with Rs 400 crore of annualized revenue run-rate, Iyer said.