Wooden Street raises Rs 354 crore in Series C round from Premji Invest - ET Retail
Summary
New Delhi: Wooden Street , a furniture and home decor brand, has raised Rs 354 crore (approximately $43 million) in a Series C funding round by global investment firm Premji Invest , marking this as one of the largest capital raises in the home & furniture sector in recent years, it announced in a media release on Saturday.To date, it has secured approximately $35 million in funding.On the current fund utilization, Dinesh Pratap Singh, co-founder of the company, said, We plan to utilize funding to fuel aggressive business expansion. The company will scale its retail footprint by opening new stores in tier-1 and tier-2 cities, in the coming years, enhancing its omni-channel presence. Wooden Street also aims to expand its manufacturing capabilities, diversify its product portfolio, and strengthen its supply chain.This funding validates our mission to revolutionize home furnishing in India. With Premji Invests support, we are poised to accelerate our mission of redefining how India experiences furniture, blending innovation with tradition at every step.Founded in 2015, Wooden Street currently operates seamlessly across both online and offline channels. It works on a company-owned company-operated (COCO) model and has a network of more than 100 experience stores across the country.It also has over 20 warehouses, and a 15 lakh sq ft manufacturing facility spread across India.