Bengaluru-based a technology-led home solutions startup HomeLane has raised $4.5 million led by Sequoia Capital. The round also saw a personal investments by Manipal Education and Medical Group (MEMG) boss Ranjan Pai and Mohandas Pai.
As per a TOI report, the raised funding will be used to expand in 10 cities across over the next 6 months and the firm is also looking to on board 10,000 interior designers from around the country.
Started by Srikanth Iyer and Rama Harinath, HomeLane is an hybrid startup that supplies customizable kitchens, wardrobes and entertainment units. It is focuses on modular, fixed furniture that has an average billing value of Rs 5 lakh upwards. The firm has seen sales grow at 100 percent month-on-month just six month after launching operations in Bengaluru, said Srikanth Lyer, CEO of HomeLane. “We would like to provide passionate designers the opportunity to work with HomeLane providing them part-time, work-from-home opportunities to augment their income.”