InnoDesign raises Rs. 75Cr in funding
Online furniture marketplace InnoDesign recently raised Rs. 75 crore in funding from the PAN Group. The company is looking to create a platform which allows customers to choose a furniture design and get it crafted by listed carpenters and small and medium scale manufacturers located near the particular consumer. The startup is looking to begin operations in the cities of Kochi and Coimbatore.
The carpenters that will be onboarded will be referred to as manufacturing partners. InnoDesign will be looking to hire them on the basis of skill, experience, and affordability of prices.
The startup plans on using the capital raised for market expansion, product development, and talent acquisition.
“We are excited to launch this unique ecosystem of buying furniture, Home décor and any other thing for a home. We have launched first in the south of India and in the coming few months in cities like Mumbai, Delhi-NCR, and other regions of India,” commented InnoDesigns founder and CEO Nidhey A Pan.
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