HomeLane provides end-to-end home interiors services and products, focusing on design, manufacturing and installation for residential customers. The company plans strategic expansion into newer markets and deeper investments in technology and brand-building. Management has set an ambitious revenue target of Rs 2,500 crore by FY24. The business has been capital efficient and the company has achieved cash profitability, according to an investor quote in the article. HomeLane is based in New Delhi and is led by co-founders Srikanth Iyer and Tanuj Choudhry. Over the past seven years it has raised significant venture capital to support growth. HomeLane operates a virtual design platform and real-time integrated pricing engine that lets home buyers select from hundreds of kitchen, wardrobe or wall-unit combinations and work with HomeLane interior designers to customise orders. The platform supports selection of layouts, designs, colours and finishes and the company offers a 45-day delivery guarantee for fit-outs. Bengaluru-based HomeLane says the new capital will be used for continued operations, further expansion of the business and working capital. The company has reported losses for four consecutive financial years—Rs 24 crore (2016–17), Rs 29.28 crore (2017–18), Rs 54.86 crore (2018–19) and Rs 121.31 crore (2019–20). Founded in 2014 by Srikanth Iyer, Rama Harinath, Krishnan Ganesh and Meena Ganesh, HomeLane has raised multiple prior financings and strategic deals. Sequoia, Accel and JSW have been recurring investors in its recent rounds. HomeLane offers a one-stop shop for fitted kitchens, wardrobes, entertainment units and other interior fixtures, combining an online design platform with 16 experience centers across seven Indian cities. Customers upload floor plans that local interior designers review to provide product suggestions, price quotes and 3D visualizations. The company has worked with more than 900 design experts and delivered over 6,000 projects. HomeLane emphasizes guaranteed on-time delivery and after-sale services and differentiates from pure online sellers by its local designer network and supply-chain capacity. The startup plans to use new capital to broaden its proprietary technology infrastructure and expand into eight to ten additional cities. Financially, HomeLane reported a net loss of $4.1 million on revenue of $5.6 million for the year ended March 2018 and its CEO says the company is inching closer to EBITDA profitability. HomeLane is a Bangalore-based online marketplace for fixed furniture, formed in August 2014 by Srikanth Iyer and Rama Harinath alongside K Ganesh and Meena. The portal sells fixed furniture items such as wardrobes, TV cabinets, kitchen units and other home set-up solutions, after rolling up assets of offline design firm Bello Interiors. The company reports 100 employees, has acquired 40 customers in the last eight months, and its average ticket size is about Rs 5 lakh. HomeLane plans to use new funding for expansion into 10 more cities by year end, technology enhancements, and marketing campaigns. Immediate expansion targets are Chennai and Hyderabad, followed by NCR and Pune, and the company intends to double headcount by year end. It positions itself against FabFurnish and Urban Ladder but says it has no direct competition because those players sell loose furniture while HomeLane focuses on fixed furniture.

Total raised

$85M

Funding rounds

5

Latest round

Series E

Latest activity

Sep 2021