Bangalore: Stitchwood.com, a custom made furniture seller, managed by Tangramme Furnishing Solutions Private Limited, is in converses with angel investors to secure a seed funding of around Rs.4.5 Crore. The deal is expected to go down within next two-three months. The company plans to utilize the fresh fund to include a new feature to its souk, which will arrange a home visit by a furniture expert and also intends to increase its employee count from seven members to 15 members.
Founded in 2012 by IIT Bombay alumni Ajit Shegaonkar and IIM Ahmedabad Graduate Vikas Nair, Stitchwood.com is an online home décor marketplace which offers customization options in sofas &mdash to customers and anticipates adding dining tables and beds in its near future. The company also allows customers to customize their own furniture and to upload pictures and designs as per their desire.
Once the customer places an order, it will be outsourced to a vendor. At the vendor’s factory, the company’s quality check team monitors the product manufacturing. Till today, the company has raised Rs. 60 Lakh of funds from bridge equity. Till date, the firm has amalgamated with five vendors in Mumbai and aims to add further in impending days.