Bengaluru:
HomeLane, a home interiors service provider, has raised Rs 60 crore (USD eight million) in a bridge round from new and existing investors. Stride Ventures has led this round, participating through debt funding of Rs 20 crore in the company, Bengaluru-based HomeLane said in a statement.
Existing investors Accel Partners, Sequoia Capital, Evolvence India, and JSW Ventures have also participated, infusing another Rs 40 crore in equity. With this round, HomeLane’s overall fund-raising has crossed Rs 370 crore (USD 54 million) over the last six years.
HomeLane recorded Rs 230.4 crore operating revenues (unaudited) for the year ended March 31, 2020, a growth of 130 percent over its revenues of Rs. 99.95 crore during the previous fiscal, the statement said. “The company is on track to reach EBITDA breakeven by April 2021,” it said.
Within a span of six years, the company has established an operational presence across 10 cities with 19 experience centers and 900-plus design experts on its tech platform, it was stated.
