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PremjiInvest bets $43 mn on furniture platform WoodenStreet

VCCircle · 5m

Jaipur-based furniture platform WoodenStreet has raised $43m in a series C funding round led by PremjiInvest. The company plans to use the new capital to expand its offline presence and open new stores in tier-1 and tier-2 cities. It also aims to strengthen its supply chain and diversify its product portfolio. WoodenStreet currently operates over 100 stores, 20 warehouses and manufacturing facilities across India, selling home and office furniture, home decor, lighting and furnishings. The transaction values the company at nearly INR 1,600 crore ($210m).