B2B manufacturing startup Boxs has successfully secured a funding of $1.6 million in a funding round led by Peak XV’s Surge. The funding round also witnessed participation from Titan Capital and Zetwerk founders, including Amrit Acharya, Rahul Sharma, Srinath Ramakkrushnan, and Vishal Chaudhary.
Fresh Funds to Drive Product Innovation and Manufacturing Capacity
The funding injection will play a pivotal role in Boxs’ future endeavors. The startup intends to utilize the newly acquired funds to drive product innovation and bolster its manufacturing capacity, further strengthening its presence in the market.
Boxs Empowering Interior Designers and Architects
Established in 2022 by Satheesh Ramdass and Vikram Venkatesan, Boxs offers a comprehensive library of modules catering to interior designers and architects. These modules enable the creation of custom-designed spaces. The process incorporates an instant pricing engine, ensuring transparent cost calculations throughout.
Streamlined Ordering and Manufacturing Process
Boxs offers an efficient ordering platform for architects and designers to place orders upon completing their designs. The startup follows an automated manufacturing process, assembling final products and delivering them fully-assembled to designers.
Boxs Future Competition and Market Potential
Boxs aims to compete with industry giants like Livspace, Pepperfry, IKEA, Bonito Designs, and Infurnia. It seeks to tap into the significant potential of the Indian interior design industry. According to a study by the iMARC Group, the Indian interior design industry was valued at $28.6 billion in 2022. The industry is projected to grow to $51.4 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 10.3%.
In a dynamic interior design sector, other players are also making strategic moves. Homelane recently secured INR 75 crore from existing investors to fuel its growth and expansion. Similarly, Design Cafe obtained INR 40 crore funding in March, led by WestBridge Capital, Mirabilis Investment Trust, and Alteria Capital, demonstrating the ongoing momentum within the industry.
