In its Series C round, Wooden Street, a furniture and home décor company, raised Rs 354 crore, or roughly $43 million, from Premji Invest.
The most recent round brings the company’s total funding to $78 million. Prior to this, Westbridge led a $30 million fundraising round in April 2022.
Co-founder Dinesh Pratap Singh of the company says the money raised will be used to expand the company’s operations, scale its retail footprint by opening new locations in tier-II and tier-III cities, and improve its omni-channel presence.
In addition to financial support, Wooden Street will receive strategic insights from Premji Invest to aid in the expansion of its business.
Established in 2015, Wooden Street is a company-owned, company-operated (COCO) business model with over 100 experience stores across the country.
With 102 experience stores, more than 20 warehouses, and a manufacturing facility spanning 15 lakh square feet, the company operates through both online and offline channels throughout India.
Wooden Street recorded over Rs 260 crore in revenue and just Rs 10.9 crore in losses for the fiscal year that ended in March 2024.
