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Homelane, backed by Accel, says it has hit cash profitability

The Arc Web

The Arc Web · 1y ago

Homelane, backed by Accel, says it has hit cash profitability

Indian interior design company Homelane is expected to achieve a 20% increase in revenue this fiscal year, reaching Rs 700 crore. The company has reported modest cash profits for the past two months and operates on a negative working capital cycle. In addition, Homelane launched a new brand called Doowup in April, targeting price-sensitive shoppers. However, competition in the space is fierce, with Livspace, another home and interior platform in India, raising $180 million at a $1.2 billion valuation in 2022.

Related News

Design Cafe on the block; will HomeLane, Livspace bite?

Livemint

Livemint · 1y ago

Design Cafe on the block; will HomeLane, Livspace bite?

DesignCafe, an interior solutions provider backed by WestBridge Capital, is reportedly up for sale due to its inability to scale up and lack of funding from existing investors. The company has engaged in talks with potential strategic and financial investors, including HomeLane and Livspace, for a possible merger. The home interiors segment, largely led by unorganized local players, has limited companies achieving significant scale. With the real estate market rebounding, the sector has gained momentum, with Livspace aiming to list in India and HomeLane reaching profitability with over ₹1,000 crore in revenue.

HomeLane buys DesignCafe, raises Rs 225 crore from Hero Enterprise, Ranjan Pai

Economic Times

Economic Times · 1y ago

HomeLane buys DesignCafe, raises Rs 225 crore from Hero Enterprise, Ranjan Pai

Home interior services startup HomeLane has acquired DesignCafe in a share-swap deal worth Rs 3,000 crore. HomeLane also raised Rs 225 crore in funding from new and existing investors, including Hero Enterprise and Claypond Capital. The combined entity aims to achieve Rs 1,000 crore revenue by fiscal 2025 and is targeting profitability at the Ebitda level. HomeLane and DesignCafe will operate as independent brands, and an IPO is being considered within the next 9-15 months. The consolidation comes amid a slowdown in the home services sector and funding challenges.

Bottomline: PE-backed Indifi’s AUM rises but asset quality worries weigh

VCCircle

VCCircle · 1y ago

Bottomline: PE-backed Indifi’s AUM rises but asset quality worries weigh

Fintech lender Indifi Technologies, backed by ICICI Venture and Accel, has reported an increase in its loan book. However, concerns over rising costs and asset quality impacted its profitability. Indifi Technologies is a tech platform that provides financial solutions to small businesses. The company's financial performance in the year through March 2024 was affected by these challenges despite its growing loan portfolio.

Homelane records Rs 748 revenue in FY25 but falls short of projections

Entrackr

Entrackr · 4d ago

Homelane records Rs 748 revenue in FY25 but falls short of projections

Home interior design firm HomeLane acquired DesignCafe last year in a share-swap deal. The merged entity was projected to achieve a topline of around Rs 1,000 crore and turn EBITDA profitable in FY25. However, the projections fell short, as the Peak XV-backed company closed the fiscal with Rs 747.8 crore in revenue and a loss of Rs 111 crore. HomeLane’s revenue from operations grew by 22% year-on-year to Rs 747.8 crore in FY25 from Rs 613.6 crore in FY24, its consolidated financial statement filed with the Registrar of Companies (RoC) shows. HomeLane offers end-to-end home interior solutions, combining design, contract manufacturing, and installation. These services remained the company’s only source of revenue during the last fiscal year. The firm also made an additional Rs 7.86 crore from interest on deposits which took its total revenue to Rs 755.65 crore in the last fiscal year. On the expenditure side, the cost of materials continued to be the largest cost category, accounting for 37% of total expenses at Rs 320 crore in FY25. This cost increased by 11% year-on-year from the previous fiscal year. Employee benefit expenses rose 28% to Rs 239 crore, while advertising and marketing costs remained flat at Rs 84 crore. Expenditure on installation and allied costs, contract manufacturing charges, legal and professional fees, travel expenses, and other overheads drove the company’s total expenses to Rs 867 crore in FY25. Tighter control over advertising, marketing, and material costs helped the company cut its losses by over 8% YoY to Rs 111.38 crore in FY25. On a unit basis, HomeLane spent Rs 1.16 to earn a rupee in FY25. Its EBITDA margin improved to Rs -11% while EBITDA (loss) stood at Rs 82.6 crore. As of March 2025, the firm has a total current assets of Rs 240.92 crore with cash and bank balances of Rs 82.65 crore. According to startup data intelligence platform TheKredible, HomeLane has raised a total of $166.45 million to date, which includes a $27 million round secured from existing investors of both HomeLane and DesignCafe, along with new participation from Hero Enterprise.

ReshaMandi's uncertain future after $40 million loss

Inshorts · 1y ago

ReshaMandi's uncertain future after $40 million loss

Hit by a cash crunch and revenue challenges, ReshaMandi started laying off employees in June 2023. It offered employees a ‘chance’ to work without salaries for three months. The employees who did so found out that there was no cash for any of the pending salary payments. These employees are still awaiting their dues.

Quick grocery has caught on, and BigBasket is smiling

Livemint

Livemint · 1y ago

Quick grocery has caught on, and BigBasket is smiling

Bigbasket's quick-commerce arm, BB Now, backed by Tata Digital, expects to become profitable within six months. Although the overall profitability target for the grocery startup has been moved to early 2025, the quick-commerce sector has provided significant growth due to its convenience. Bigbasket aims to maintain profitability by tightly controlling costs and leveraging its existing infrastructure. Competition is fierce in the quick-commerce market, with high cash-burn rates and significant losses to sustain growth. Bigbasket views its quick-commerce arm as a marketing channel to drive more customers to its main grocery business.

Accel Atoms 4.0 to invest up to $1 million in startups focused on 'Bharat' opportunity, AI

Economic Times

Economic Times · 1y ago

Accel Atoms 4.0 to invest up to $1 million in startups focused on 'Bharat' opportunity, AI

Accel, a global venture capital firm, has launched Accel Atoms 4.0, a pre-seed scaling program for startups. Chosen startups will receive up to $1 million in funding and over $5 million worth of perks from Accel network partners. The program is open for pre-seed startups operating in the fields of AI and Bharat. Accel Atoms 4.0 aims to support visionary founders and entrepreneurs by providing funding, mentorship, and a network of support. Since its establishment in 2021, Accel Atoms has backed 32 startups that have collectively raised over $200 million.

Indian fintech Jar turns cash-flow positive

TechCrunch · 9m ago

Indian fintech Jar turns cash-flow positive

Indian fintech startup Jar has become cash-flow positive, confirmed by a company executive. The three-year-old firm, backed by Tiger Global, achieved this milestone while expanding significantly last year. This shift towards profitability aligns with a trend among Indian startups preparing for IPOs by improving financials and reducing expenses. Jar has diversified its services by adding lending and online jewelry sales, the latter generating annualized sales of $13 million. The startup is also reportedly seeking $50 million in new funding.

Accel-backed Onsitego to acquire Qdigi from Fairfax-controlled Quess Corp

VCCircle

VCCircle · 1y ago

Accel-backed Onsitego to acquire Qdigi from Fairfax-controlled Quess Corp

Onsitego, an Accel-backed device-care provider, is set to acquire Qdigi Services from Quess Corp Ltd in a cash and equity swap deal. Onsitego will pay Rs 80 crore in cash and Quess Corp will receive a 2.4% stake in Onsitego. Qdigi provides installation, repair, and maintenance services for smartphone manufacturers and online retailers. The acquisition will enhance Onsitego's service capabilities and market offerings, while also targeting new partnerships for growth. The entire Qdigi team and business will be transferred to Onsitego.

DeHaat acquires farm advisory platform AgriCentral

Economic Times

Economic Times · 9m ago

DeHaat acquires farm advisory platform AgriCentral

DeHaat, an agritech startup, has acquired farm advisory platform AgriCentral from Olam Agri in an all-cash deal. AgriCentral, serving over 10 million farmers, enhances DeHaat's digital services and farmer reach. The acquisition marks DeHaat's seventh, following purchases like Vezamart and Helicrofter. DeHaat, backed by Temasek, operates in 12 Indian states, serving around 3 million farmers. The company anticipates continued growth and aims for profitability in Q4, driven by its expanding business scale and value-added services.

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