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Peak XV-Backed HomeLane Seeks Buyout Of DesignCafe At $360 Mn Tag

Inc42 · 1y ago

Peak XV-Backed HomeLane Seeks Buyout Of DesignCafe At $360 Mn Tag

Home interior startup HomeLane is set to acquire smaller rival DesignCafe in a stock-swap deal with HomeLane being valued at $360 million and DesignCafe at approximately $60 million. DesignCafe had faced difficulties in raising funding leading up to the merger. The merged entity plans to focus on long-term sustainability and aims to achieve revenue of INR 200 crore by FY25. The merger is seen as a strategic move to address expansion challenges and the merged entity may consider a public offering in the future.

Related News

Home interior company HomeLane may acquire smaller rival DesignCafe

Economic Times

Economic Times · 1y ago

Home interior company HomeLane may acquire smaller rival DesignCafe

Home interior services startup, DesignCafe, is set to merge with its bigger rival, HomeLane, in a stock-swap deal. The merger will value DesignCafe at approximately $60 million and HomeLane at around $360 million. The consolidation comes as both startups face challenges in raising funds and aim to generate a combined EBITDA of about INR 70 crore by FY 2025. Design Cafe is expected to continue operating as an independent brand post-merger. The combined entity may also consider a public offering in the future.

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

Economic Times

Economic Times · 10m 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.

HomeLane one step closer to being market leader with acquisition, also raises funding

VCCircle

VCCircle · 10m ago

HomeLane one step closer to being market leader with acquisition, also raises funding

Indian interior design company Homevista Decor & Furnishings is set to acquire its rival DesignCafe, in a move that will create the largest interiors entity in India. The valuation of the combined entity is approximately $360m, and the company is targeting a revenue of $136m in FY25. The acquisition is subject to regulatory approvals. Homevista Decor & Furnishings has also raised $30m in funding in a round led by Hero Enterprise, and backed by existing investors. The merged entity, comprising HomeLane, Doowup, and DesignCafe, will retain its distinct brands.

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.

VCs Should Focus On A Startup’s Revenue Growth And Not Unicorn Tag: Peak XV’s Mohit Bhatnagar

Inc42 · 10m ago

VCs Should Focus On A Startup’s Revenue Growth And Not Unicorn Tag: Peak XV’s Mohit Bhatnagar

Peak XV Partners (formerly Sequoia Capital India and SEA) managing director Mohit Bhatnagar emphasized that revenue scale is more important than valuation for the venture capital firm. Bhatnagar mentioned that the "unicorn" tag is merely a marketing label and does not impact their investment decisions.

360 ONE Asset forays into early-stage startup investing with $60-mn VC fund

VCCircle

VCCircle · 2m ago

360 ONE Asset forays into early-stage startup investing with $60-mn VC fund

360 ONE Asset, part of 360 ONE WAM Ltd and backed by Bain Capital, is launching a $60 million venture capital fund for early-stage startup investments. The fund will focus on seed and Series A investments across various sectors, aiming to support startups from early stages to IPO. Led by Abhishek Nag, the initiative seeks to fill gaps in India’s micro-VC ecosystem by providing long-term capital and co-investment opportunities, with initial deals in gaming, food, SaaS, and space-tech.

Scoop: Peak XV out to raise $1.2 billion fund, its first since Sequoia split

Economic Times

Economic Times · 3m ago

Scoop: Peak XV out to raise $1.2 billion fund, its first since Sequoia split

Peak XV Partners, formerly part of Sequoia Capital, aims to raise a $1.2-1.4 billion independent fund to invest in early-stage ventures in India and Southeast Asia. The fund marks Peak XV's first since its Sequoia split and follows internal leadership changes amid a challenging VC funding environment. With prior successes backing firms like Zomato and Cred, Peak XV seeks to strengthen its position, expand to the US market, and capitalize on opportunities in AI and tech sectors.

Peak XV's Piyush Gupta is leaving firm to start own secondary-focused VC fund

TechCrunch · 1y ago

Peak XV's Piyush Gupta is leaving firm to start own secondary-focused VC fund

Piyush Gupta, an operating leader at Peak XV Partners, is leaving the firm to start his own fund. Gupta played a crucial role at Peak XV, leading the strategic development team and contributing to programs like Pitstop. News of Gupta's departure was shared with limited partners at an annual meeting, where Peak XV also unveiled plans for a perpetual fund. Gupta plans to launch a secondary-focused fund, and Peak XV intends to work closely with him to facilitate transactions at its portfolio companies. Secondary transactions are becoming increasingly popular in India, and Peak XV has seen successful exits through such deals in the past.

Shraeyansh Thakur resigns from Peak XV after a decade

Entrackr

Entrackr · 5m ago

Shraeyansh Thakur resigns from Peak XV after a decade

Shraeyansh Thakur resigns from Peak XV after a decade During his tenure at Peak XV, he was board member and observer for startups like Atlys, Meesho, Cars24, ApnaMart, Unacademy, Zetwerk, Urban Piper, Bijnis, among others. Shraeyansh Thakur, an investor at Peak XV Partners, has resigned after nearly 10 years at the venture capital firm, sources told Entrackr. This marks the fifth high-profile exit from Peak XV in the past year. “Shraeyansh Thakur has decided to quit the firm and is likely to launch his own venture soon,” said one of the sources requesting anonymity. Queries sent to Peak XV and Thakur did not elicit any response until publication of the story. "After an incredible 9+ years at Peak XV / Sequoia India, I have decided to embark on a new entrepreneurial journey. The next 10 years are going to be India’s golden digital decade and our founders now have true belief to create the world’s best companies from India," said Thakur in a Linkedin post. Last month, Peak XV’s managing partners, Shailesh Lakhani and Abheek Anand, stepped down after serving for more than a decade. Prior to that, Anandamoy Roychowdhary, a partner at Peak XV's Surge, departed after over 11 years at the firm, while Piyush Gupta, then Managing Director, left after seven years to launch his secondary-focused fund, Kenro Capital. Meanwhile, Rishen Kapoor, co-founder and CEO of SaaS startup Toplyne, has returned to Peak XV Partners after his three-and-a-half-year-old venture shut down. In October last year, Peak XV reduced its $2.85 billion fund by 16% as part of a strategic shift towards investing in a more measured manner amid elevated valuations in the Indian market. This development came a year after Sequoia Capital rebranded as Peak XV.

TPG, Matrix Partners, Peak XV strike $200-mn India exit

VCCircle

VCCircle · 1y ago

TPG, Matrix Partners, Peak XV strike $200-mn India exit

TPG, along with Matrix Partners and Peak XV, has completed a $200 million exit from their investments in India. The private equity group TPG has been active in the Indian market, making multiple investments and now finalizing its fourth exit. This latest exit is in collaboration with alternative investment firms Matrix Partners and Peak XV.

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