WoodenStreet gets Rs.230cr to further develop its tech platform
WoodenStreet has secured almost Rs 230 crore in a funding round led by WestBridge Capital. Among other things, the home decore startup will use the money to further develop its technology platform. WoodenStreet, an online furniture and home décor platform, announced on Wednesday that it has raised $30 million (almost Rs 230 crore) in funding led by WestBridge Capital at a valuation of Rs 1,200 crore. According to the business , which has over 50 experiential stores in key cities and claims to service more than 15 lakh clients, this is the largest capital raised by any vertical furniture player in India this year. WoodenStreet, founded in 2015 by Lokendra Singh Ranawat, Virendra Ranawat, Dinesh Singh Rathore, and Vikas Baheti, previously raised $3 million in series A funding from IAN and RVCF (Rajasthan venture capital funds). Co-founder and CEO, Ranawat, said, "We focus on design and innovation, allowing practical and designer things at a reasonable price....