Online interior design startup Design Cafe raised $25 million as part of its extended Series B led by existing investors WestBridge Capital and joined by Sixth Sense Ventures where the Bengaluru-based startup’s early investor Fireside Ventures also participated.
The company will be using the fresh round of capital to expand to 10 new Indian cities, said Design Cafe in a press release. It currently operates in Bengaluru, Mumbai, and Hyderabad, with new locations opening in Chennai and Thane.
Design Cafe has approved the allotment of 12,713 Series B1 preference shares at an issue price of Rs 66,475.61 to raise Rs 84.51 crore or $11.5 million, according to regulatory filings. Sixth Sense Ventures and WestBridge have invested the majority of the funds, each investing Rs 43.3 crore and Rs 30.51 crore.
Design Cafe provides consumers with an online customised design and decor solution that also includes budget management and home cleaning, among other things. It’s worth noting that the company makes all of its products in its Bengaluru factory.
The company claims to be nearing break-even and aiming for a gross annual order booking run rate of 600-700 crore within the next two years.
