HomeLane, the India-based operator of a home renovation management platform, has raised $30m in series D funding from investors including adhesives producer Pidilite Group, TechCrunch has reported.
Private equity fund Evolvence India Fund led the round, which also featured FJ Labs. Accel, Sequoia Capital and JSW Ventures.
Founded in 2014, HomeLane, has developed an online platform that allows users to source local interior designers as well as furnishings and fittings. It has opened brick-and-mortar showrooms in seven Indian cities and plans to use the funding to move into eight to 10 additional cities.
The company raised the first $4.6m of the round in February this year having secured $3.5m from Brand Capital, an ad-for-equity vehicle operated by media group Bennett, Coleman & Co, in June 2018.
Sequoia Capital led a $4.5m series A round for HomeLane in 2015 that included Aarin Capital, before Sequoia, Accel Partners and RB Investments reportedly added $10m in series C funding in December 2017.
The series D round increased the company’s overall funding to $46m according to TechCrunch, though the discrepancy could be down to fluctuating exchange rates.
