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HomeLane banks on commercial interior design business to drive growth

LivemintLivemint · 1y ago
HomeLane banks on commercial interior design business to drive growth
Medial

- HomeLane's commercial interiors vertical, Cubico, is expected to generate 10% of its revenue, around ₹80 crore, this year. - The company's goal is for Cubico to become a ₹1,000-crore business in the next five years, targeting the SME segment. - HomeLane plans to expand its services in the home interiors business and has started piloting Wrap Zap, a service that offers quick makeovers for small spaces. - The company aims to expand its presence from 25 cities to 50 cities in the next two years, capitalizing on the demand for branded home interior solutions in tier 2 markets. - HomeLane recently acquired Design Cafe, broadening its target market to more premium customers and emphasizing the design journey aspect. - HomeLane set ambitious growth targets, aiming for a four-fold increase in revenue in the next five to six years, reaching ₹2,500-3,000 crore.

Exclusive: Livspace acquires a majority stake in Abby Lighting in cash-and-stock deal

EntrackrEntrackr · 1m ago
Exclusive: Livspace acquires a majority stake in Abby Lighting in cash-and-stock deal
Medial

Omnichannel home interior and renovation platform Livspace acquired Mumbai-based LED lighting solutions provider Abby Lighting in a cash and stock deal, according to regulatory filings reviewed by Entrackr. As per its filing with the Registrar of Companies (RoC), Livspace acquired a majority stake in the firm for around Rs 204 crore (approximately $23 million). The transaction comprises Rs 173 crore in cash and Rs 31 crore through a share swap. As part of the share swap, Abby Lighting’s co-founders Sanjay Bajaj and Suresh Bajaj will be allotted 4,11,274 equity shares in Livspace, translating to around a 0.31% stake in the company. Confirming the development to Entrackr, a Livspace spokesperson said, “This is a strategic investment on our part and in line with our vision to offer a broad spectrum of offerings to our customers. The promoters & management of Abby Lighting & Switchgears will continue to helm the company and operations will continue unchanged.” Founded in 2000, Abby Lighting designs and manufactures LED and architectural lighting solutions for residential, commercial, and industrial spaces, offering customised, energy-efficient lighting systems and related switchgear products. The company has 85,000+ sq ft design and manufacturing facility in Palghar, Maharashtra. This acquisition by the IKEA-backed company will mark its fifth acquisition to date. Its earlier acquisitions include Qanvast, YoFloor, Dwll.in, and DezignUp. Founded in 2014, Livspace enables homeowners to explore and customize pre-designed rooms, kitchens, and storage solutions through its platform. According to startup data intelligence platform TheKredible, Livspace has raised over $520 million to date, including its $180 million Series F round led by KKR & Co., which helped the company attain unicorn status. For the fiscal year ended March 2025, Livspace reported 23% year-on-year growth in its operating revenue to Rs 1,460 crore from Rs 1,185 crore in FY25. At the same time, the company shrunk its losses by 42% to Rs 242 crore.

Exclusive: Bonito Designs to raise $9.5 Mn from Tomorrow Capital

EntrackrEntrackr · 6m ago
Exclusive: Bonito Designs to raise $9.5 Mn from Tomorrow Capital
Medial

Exclusive: Bonito Designs to raise $9.5 Mn from Tomorrow Capital Interior designing company Bonito Designs is set to raise Rs 81 crore (approximately $9.5 million) from its holding company Tomorrow Capital. This funding comes after a two-year hiatus since it last raised Rs 40 crore in June 2023 from HDFC, Tomorrow Capital, and Lodha Ventures. The board at Bonito Designs passed a special resolution in May this year to issue 28,357 class A equity shares at an issue price of Rs 28,564 to Tomorrow Capital to raise Rs 81 crore or $9.5 million, its regulatory filing accessed from Registrar of Companies (RoC) shows. As per its filing, the company has already received Rs 51 crore, the rest of the amount is expected to follow shortly. The company will be valued at around Rs 531 crore ($62.5 million) post-allotment, marking an 18% drop from its Rs 650 crore valuation in the previous round. Founded in 2012 by Sameer AM and Vathsala CR, Bonito Design offers end-to-end solutions and caters to both luxury and budget homes through curated, cost-effective designs. The Bengaluru-based company has so far raised around $22 million to date. Following the allotment, Tomorrow Capital will extend its stake in the company to 67% (on a fully diluted basis), as per startup data intelligence platform TheKredible. Bonito Designs recorded a nearly 50% increase in operating revenue to Rs 153.4 crore in the fiscal year ended March 2024 from Rs 104 crore in FY23. However, the company’s losses more than doubled to Rs 66.9 crore during the same period. The company competes with leading players in the space, including Livspace, HomeLane, and DesignCafe, which was recently acquired by HomeLane.

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