Ganesh Pawar launched Furnishka, a furniture store, in 2023. IndiaQuotient led the successful pre-Series A funding round that raised Rs 27 crore for the company, bringing its total funding to Rs 45 crore. Sparrow Capital and angel investors Ramakant Sharma and Sujeet Kumar, who co-founded Udaan, also participated in the round.
The additional funding will be put toward improving product development and design, strengthening supply chain and manufacturing capabilities, and expanding to new areas.
Furnishka seeks to address problems like expensive shipping, uneven service quality, and protracted delivery times in order to streamline India’s convoluted home furnishings industry. It offers a seamless shopping experience through both online and offline stores in Bengaluru, with over 1,000 SKUs and customizable designs at competitive prices.
According to market research, the Indian furniture market is expected to expand at a compound annual growth rate (CAGR) of 11.35% from 2024 to 2032, from $24.47 billion in 2023 to $64.39 billion.
In order to provide high-quality furniture at a reasonable price, Furnishka has concentrated on standardization, cost reduction, localization, and supply chain innovation. In just one year, the business has provided services to more than 10,000 clients and runs four expansive stores in Bangalore that feature a broad selection of goods.
Furnishka’s future goals include opening six more large-format stores, diversifying its product offering to include more luxury living room, dining room, and bedroom collections, and producing instructional content to assist consumers in making well-informed furnishing selections. In order to accommodate a wide range of preferences and needs, the company provides thousands of customization options.
