Furnishka, known for its premium furniture offerings, plans to use the funds to broaden its product range and set up six large-format stores, primarily in Bangalore and the National Capital Region (NCR). The startup will also invest in creating educational content to help customers make informed decisions about their home furnishing needs.
Home furnishing startup Furnishka has raised ₹27 crores in a pre-Series A funding round led by India Quotient. This capital infusion will be crucial in advancing product design and development, strengthening manufacturing and supply chain capabilities, and driving expansion into new markets.
Furnishka, known for its premium furniture offerings, plans to use the funds to broaden its product range and set up six large-format stores, primarily in Bangalore and the National Capital Region (NCR). The startup will also invest in creating educational content to help customers make informed decisions about their home furnishing needs. In addition to store expansion, the company is looking at enhancing its digital presence to offer a seamless online experience, which will complement its offline sales strategy.
“We’re focusing on expanding our footprint while optimizing our supply chain and developing new products,” said Ganesh Pawar, Founder of Furnishka. “We plan to open six more stores, predominantly in Bangalore, and we’re partnering with a retail chain in NCR to open two more stores there. After that, we would like to expand into tier II and III cities around these clusters.”
While the company recognizes the importance of an online presence, Pawar believes that the majority of premium furniture sales will continue to happen in physical stores. “The first interaction of customers with our brand will likely occur online, but the final sale will take place offline,” he added, emphasising the need for a seamless digital experience that supports the overall shopping journey.
In a separate development, Vivriti Capital has successfully raised $25 million in senior secured debt from the Asian Development Bank (ADB).
This 4-year loan is the first of its kind for a non-banking financial company (NBFC) in India and will be instrumental in expanding Vivriti’s green finance portfolio, with the proceeds directed towards funding renewable energy projects and the electric vehicle ecosystem.
Vineet Sukumar, Founder & MD of Vivriti Capital, expressed optimism about the future impact of the loan: “Our green finance portfolio has built up quite well over the last two and a half years, with around ₹1,500 crores in disbursements. We’ve seen encouraging results in sectors like solar, wind, biogas, waste-to-energy, and electric vehicles. This assistance from ADB is a great testament to the portfolio we have built, and I believe it will help us double our efforts in the renewable energy and electric vehicle ecosystem.”
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