HomeLane Raises Rs 75 Crore in Bridge Funding Round
Summary
HomeLane, a provider of personalized home interior solutions, announced the successful completion of a bridge round, raising Rs 75 crore (around $9.1 million) from its current investors. Additionally, it also enables the scale-up of its recently launched affordable segment brand, Doowup.The company claimed it is on track to achieve profitability in FY24. "This bridge round represents an important milestone for HomeLane, providing us with the resources to further scale the delivery of exceptional home interior solutions to our customers. "Though the specific terms and conditions of the bridge round remain undisclosed, it is worth noting that the funding has been structured to align with HomeLanes long-term goals.Founded in 2014 by Rama Harinath, Srikanth Iyer and Vivek Parasuram, HomeLane raised over $113 million across 10 funding rounds from investors like Sequoia India, Accel, JSW Ventures, Mohandas Pai and cricketer MS Dhoni. There were also reports that New Delhi-based home interior start-up Livspace is in talks to acquire a majority stake in the HomeLane, which is its competitor.