Bangalore-based online modular furnishing solutions provider, CapriCoast.com, has raised $1.25 million in a seed round led by Accel Partners India. The company will use the seed funds to expand to all the 6 metros in India, by the end of 2015.
CapriCoast connects customers with manufactures and suppliers of kitchen solutions and wardrobes. Its catalog has about 1000 designs of kitchen and wardrobes with a wide price range. The website relies on online customization tools & free design consultations to ensure a good customer experience. The firm has designed a standardized pricing mechanism for customers to compare products and prices across manufacturers.
“The $10B Modular furnishing market in India, is mostly unorganized with minimal quality standardization, obfuscated pricing and a tedious, high-friction purchase process. We want to change this by providing an engaging, never before customer experience”, said Jawad Ayaz, Founder and CEO, CapriCoast.
He furhter added “CapriCoast.com’s online model eliminates middlemen and brings in cost efficiencies that are passed on to the customer, making it possible for the price of a world class modular kitchen to be 20-25% lower than any other comparable offerings in the market”.
Jawad Ayaz also runs online furniture seller Zansaar, which is funded by Accel. Zansaar and CapriCoast will use each other’s platforms to increase their user base.
Last month, Bengaluru-based Furlenco, an online venture for renting furniture for residential use, has secured $6 million in series A round of funding from Lightbox Ventures. The other players in the online furniture space include Urban Ladder, FabFurnish, HomeLane, LivSpace, Pepperfry, CustomFurnish etc.