Bengaluru: Bengaluru based home décor startup, StitchWood.com, which is owned and operated by Tangramme Furnishing Solutions Private Limited, raises its second round of angel funding of Rs.2.5 crore. The round was led by Powai Lake Ventures that invested has Rs.1.75 Crore in the company. The round also witnessed the participation of former CEO of SINE, Ajeet Khurana and two other angels. The company will utilize the funds to enhance its technological capacities and towards marketing and operations. Earlier the company had raised $100K in their seed round from Ajeet and other investors.
Founded in 2014 by Ajit Shegaonkar and Vikas Nair, StitchWood is an online customized furniture store that enables the customers to design and create furniture that fits their requirements. It does not only offer an easy-to-use online customization interface, but also allows the customers to visualize their creation to the finest detail. It offers the users beautiful, unique and personalized furniture at affordable prices in an easy and hassle-free way. The customers can also request for a free on-site visit, where carpenters visit their homes and make recommendations.
StitchWood offers six basic styles for sofas that can be customized to over 10,000 designs and claims to have sold 25 pieces of furniture till date at an average ticket size of Rs.50,000. When a customer places an order, it is outsourced to a vendor and the company’s quality check team monitors the product’s manufacturing at the vendor’s factory.
As of now, the company has a workforce of 13 people and plans to increase to 25 in the next 3-4 months, while their primary focus will be on strengthening their backend logistics team. They are also working on a mobile app which will be launched in the next quarter.