Home interior solutions startup HomeLane raised $9.1 million from its existing investors. The specific investors participating in the round were not disclosed, but HomeLane counts Evolvence, NuVentures, Sequoia, Accel, JSW Ventures, Mohandas Pai, and MS Dhoni among its backers. The funding was raised through convertible notes, according to the startup.

This development follows recent speculation that HomeLane’s competitor, LivSpace, was in talks to acquire the company. However, HomeLane has denied these claims, stating that it remains focused on its independent strategic goals.

HomeLane’s previous funding round was a Series E raise of $50 million (INR 371 crore) in September 2021, with participation from IIFL AMC’s late-stage tech fund, OIJIF II, and existing investor Stride Ventures.

In a statement, HomeLane cofounders Srikanth Iyer and Tanuj Choudhry expressed the significance of this bridge round, emphasizing that it provides the necessary resources to further scale their exceptional home interior solutions and cater to their customers’ needs.

Founded in 2014, HomeLane offers personalized, tech-enabled end-to-end interior services, leveraging technological interventions, expert designers, and project managers. The startup claims to have built a community of over 30,000 customers across India and operates in more than 22 cities with over 50 experience centers.

The latest funding infusion significantly strengthens HomeLane’s financial position, enabling aggressive pursuit of growth opportunities in its existing cities. It will also support the expansion of the recently launched affordable segment brand, Doowup.

HomeLane has set a goal to become the first profitable company in the home interiors space and is on track to achieve profitability by September 2023, in line with its FY24 projections. While the startup’s standalone net loss widened in FY22, reaching INR 153.05 crore, its operating revenue grew to INR 426.13 crore during the same period.

Despite challenges faced in the industry, including a restructuring exercise resulting in employee layoffs, HomeLane reported a 35% year-on-year revenue growth to INR 580 crore in FY23. The startup aims to maintain a positive EBITDA and achieve sustainable growth by prioritizing cash flow management.

Home interior solutions startup HomeLane raised $9.1 million from its existing investors. The specific investors participating in the round were not disclosed, but HomeLane counts Evolvence, NuVentures, Sequoia, Accel, JSW Ventures, Mohandas Pai, and MS Dhoni among its backers. The funding was raised through convertible notes, according to the startup.

This development follows recent speculation that HomeLane’s competitor, LivSpace, was in talks to acquire the company. However, HomeLane has denied these claims, stating that it remains focused on its independent strategic goals.

HomeLane’s previous funding round was a Series E raise of $50 million (INR 371 crore) in September 2021, with participation from IIFL AMC’s late-stage tech fund, OIJIF II, and existing investor Stride Ventures.

In a statement, HomeLane cofounders Srikanth Iyer and Tanuj Choudhry expressed the significance of this bridge round, emphasizing that it provides the necessary resources to further scale their exceptional home interior solutions and cater to their customers’ needs.

Founded in 2014, HomeLane offers personalized, tech-enabled end-to-end interior services, leveraging technological interventions, expert designers, and project managers. The startup claims to have built a community of over 30,000 customers across India and operates in more than 22 cities with over 50 experience centers.

The latest funding infusion significantly strengthens HomeLane’s financial position, enabling aggressive pursuit of growth opportunities in its existing cities. It will also support the expansion of the recently launched affordable segment brand, Doowup.

HomeLane has set a goal to become the first profitable company in the home interiors space and is on track to achieve profitability by September 2023, in line with its FY24 projections. While the startup’s standalone net loss widened in FY22, reaching INR 153.05 crore, its operating revenue grew to INR 426.13 crore during the same period.

Despite challenges faced in the industry, including a restructuring exercise resulting in employee layoffs, HomeLane reported a 35% year-on-year revenue growth to INR 580 crore in FY23. The startup aims to maintain a positive EBITDA and achieve sustainable growth by prioritizing cash flow management.