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Bengaluru-Based Design Cafe Raises Rs 40 Crore From WestBridge Capital

The company will utilise the fund to take its latest innovations to untapped markets

Bengaluru-Based Design Cafe Raises Rs 40 Crore From WestBridge Capital
POSTED ON March 29, 2023 12:35 PM

Bengaluru-based interior solutions start-up Design Cafe has raised Rs 40 crore in a funding round led by WestBridge Capital, Mirabilis Investment Trust and Alteria Capital. Its existing investors Sixth Sense Ventures also joined in the round. The funding came through a mixture of equity and debt. 

The company will utilise the fund to take its latest innovations to untapped markets. It is also eying to deliver a 60-70  per cent compound annual growth rate (CAGR). 

The funding is a continuation of the company’s extended Series B fundraising round. In 2021, Design Cafe raised $25 million from WestBridge Capital and Sixth Sense Ventures. It also achieved a valuation of $96.5 in August 2022. 

According to a report by The Economic Times, Design Cafe competes with Livspace and Accel-backed Homelane. 

Talking about the latest development, Shezaan Bhojani, the co-founder of Design Cafe, said, “Essentially, what we are doing is that it is an extension of the last round. We are making sure that there is a 36-month runway. The idea is to have enough capital in the bank till you get profitable.”

“We are very excited about expanding Design Cafe and our new brand Qarpentri across India. In just six months since launch, we have become market leaders in this category with over 4x growth and are profitable to boot,” Gita Ramanan, the chief executive officer said. 

Bhojani is expecting the company to turn profitable within a year. In an interaction with ET, Bhojani said, “In the last year, we have made significant progress towards profitability. Our margins have increased significantly, and we are operationally profitable across all cities.” 
 

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