Today, online portals have become the vast marketplace for buyers, be it in apparels, cosmetics, books, furniture and home decor and everything else. The huge numbers of buyers have shifted their preferences from physical shops to online stores. Online shopping not only saves your time but also offers great prices and discounts. Home decor and furnishing are also not lagging behind to make their own space in the online market. The categories which includes furniture, decor, kitchen, hardware and services is growing at 700 percent annually and in next two years we will see them close to $2 billion in Gross Merchandise Value (GMV).
Home decor is an emerging business for Indian e-commerce players, but it has been growing at a faster rate as compared to other online segment. Besides the opportunities the account of goods return by the customers at the doorstep is less than 2% as compared to apparels and other sectors. Home decor and furnishing segment is gaining acceptance among young buyers online as there is no confusion or challenges related to size, price or brand. It is becoming more of an impulsive buying like apparels.
Let’s look at the Top 6 Indian Home Decor E-commerce Startups that are making difference in decor and furnishing segment.
LivSpace was founded in Bangalore in July 2012 by Anuj Srivastava, Ramakant Sharma and Shagufta Anurag, with an aim to provide end-to-end home design and décor services. It is a curated marketplace home owners and designers that let customers discover thousands of interior designs by color, material and style. Promoters are founders of one of the top rated design firms in the world (Space Matrix) with a focus on India and South East Asia. LivSpace has their own in-house design team and network of external interior, furniture and home decor product design consultants. The startup secured $8 million funding from Helion Ventures, Jungle Ventures and Bessemer Venture Partners.
UrbanLadder is a Bangalore based online furniture and home decor marketplace, co-founded by Ashish Goel and Rajiv Srivatsa. Urban Ladder has raised $77 million in funding from top tier venture capital firms Steadview Capital, SAIF Partners and Kalaari Capital and Sequoia Capital. Mr. Ratan Tata, Chairman Emeritus of Tata Sons has also made a personal investment in Urban Ladder. It has recently launched an app that can design your room before buying furniture. Apart from 6 metro cities, UrbanLadder delivers to 12 cities in India which includes Pune, Cochin, Chandigarh, Surat, Ahmedabad, and Mangalore. With over 4000 products and 35 categories UrbanLadder is day by day expanding its home décor and furniture business. Customer service and trust factor makes UrbanLadder one of the top most home décor and furniture online portals.
Pepperfry was founded by former eBay executives Ambreesh Murty and Ashish Shah in 2011. It is India’s largest furniture and home decor online marketplace headquartered in Mumbai. Pepperfry offers over a million+ items across categories like Home Décor, Kitchen, Furniture, Light & Lamps etc. It is an ideal platform for small and medium business artisans and merchants, who wish to sell their merchandize to millions of discerning customers. The company claims to have about 2.5million unique monthly visitors and more than 1000 merchants on its marketplace. Pepperfry have recently received $100Million investment from Goldman Sachs Group Inc.
Fabfurnish.com is India’s largest online store for furniture and home decor, furnishings, kitchenware, etc. The company was launched in March 2012 by Vaibhav Aggarwa, Vikram Chopra and Mehul Agarwal. FabFurnish is mainly funded by Rocket Internet and Kinnevik who have invested more than $30 million. It has recently evolved into a curated content play for home products. The site offers distinct categories and sells various top notch brands.
With a grand collection of over 60,000 products, the company has created a niche for itself in the home décor and furniture segment. It offers ace designs, affordable pricing, pan-India shipment and excellent customer service.
Launched in 2014, HomeLane.com was founded by former Person CEO Srikanth Iyer, along with a former colleague Rama Harinath. HomeLane is an interior design marketplace that delivers innovative furniture and home decor design services to residential spaces. It assists homeowners with customizable home solutions including kitchens, wardrobes, entertainment and vanity units. It raised $4.5 million in funding from Sequoia Capital in February. It has recently received funding of $50 million from Sequoia Capital and has acquired technology startup Doowup for an undisclosed amount.
Stitchwood, founded by IITB-IIMA duo Ajit Shegaonkar and Vikas Nair, provides customised furniture and home decor based on customers’ requirements. They had earlier raised $100K in their seed round from Ajeet Khurana (who also participated in the current round) and other investors. Stitchwood is an online customized furniture venture that empowers the customer to design and create furniture that perfectly fits his/her requirements. Stitchwood’s endeavour is to make furniture customization simple and easy. Through its online 3D design tool, Stitchwood allows customers to visualize their furniture design to the finest detail and helps them create their ‘own’ furniture. Stitchwood, recently announced that they had raised $400K in an angel round from members of Powai Lake Ventures and a few individual angel investors. Most of their orders are from Mumbai and Pune.