News Digest

15 December 2017
HomeLane raises $10 million from Accel Partners, o

Online home furnishings provider HomeLane on Thursday said it raised $10 million in a funding round led by Accel Partners. RB Investments and existing investor Sequoia Capital India also invested in the latest round. This takes the total investment raised by the start-up to $25 million—in the same range as its rival Livspace, backed by Bessemer Venture Partners and Jungle Ventures. The deal follows Teabox, a tea brand, also raising a $7 million round led by RB Investments on Wednesday. The Singapore-based venture capital firm has been quick to grow its portfolio in India, which now comprises over two dozen start-ups. For HomeLane, the latest round gives it resources to scale operations and aggressively target new customers. Started in Bengaluru, which is also its largest market, HomeLane has forayed to Chennai, Hyderabad, Mumbai and the National Capital Region. The funds will fuel HomeLane's expansion in these markets, its co-founder and chief executive officer Srikanth Iyer said. The announcement comes roughly a month after it spent Rs90 crore to acquire, an online marketplace for home furnishings, to strengthen its product offering.

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