Spacewood raises Rs 300 Cr at Rs 1,200 Cr valuation

Modular furniture maker Spacewood Furnishers has raised Rs 300 crore ($36 million) from A91 Partners at a valuation of Rs 1,200 crore ($135 million).

The investment gives A91 Partners a minority stake and will support expansion, brand building, and operations. Spacewood plans to scale from 35 exclusive stores to 100 stores across India over the next few years.

Founded by Kirit Joshi and Vivek Deshpande, Spacewood manufactures modular furniture for homes and offices.  The company works through an omnichannel model with exclusive stores, a dealer…