Buying a home is an exciting opportunity but can also be daunting as it involves tackling countless responsibilities and tasks. Among these responsibilities, one significant aspect that no one should never overlook is the home interior.
A well-executed interior design can upgrade your property’s overall look and feel; however, a poorly executed one may result in uncomfortable, disorganised, and aesthetically unpleasing space. As of 2022, the Interior design market size is estimated at USD 28.97 billion, and the market size is projected to grow at a CAGR of 10.54%, reaching a value of USD 52.84 billion by 2029. Homelane is an interior brand that delivers personalised and pocket-friendly services to homeowners; let’s discuss more about it.
HomeLane – Transforming Homes
HomeLane is a Bengaluru, Karnataka-based startup that claims to offer home renovations and interior designs to homeowners. Founded by Shrikant Iyer on 1 May 2014, the startup currently holds 24 experience centers and more than 900 designers across twelve cities, such as Bengaluru, Chennai, Hyderabad, Mumbai, and Delhi-NCR.
When Iyer bought a house, he realized that homeowners often struggle with unpredictable quality, budget issues, and delays when getting their interiors done. He saw this as an opportunity and aimed to offer unbeatable quality, budget adherence, and timely services as a solution to such homeowners. With no significant competition in India’s branded home interior sector, he aimed to build a nationwide brand and make HomeLane successful.
HomeLane – Funding Journey
HomeLane initially began its journey with a ₹1 crore investment from Tutorvista’s K and has now become a leading home interior platform. It’s worth mentioning that the platform has attracted countless investors, and in February 2015, HomeLane successfully secured funding of ₹27 from Sequoia Capital, Growth Story, and Aarin Capital. Additionally, over the past few years, it has raised ₹62 crores from different investors.
HomeLane – Achievements
When it comes to HomeLane’s achievements, it has been rewarded with the title of Emerging Kitchen Brand Award in 2016 from the Indian Kitchen Congress. Plus, the brand has also earned a spot-on Smart CEO’s list of the Top 50 Startups in India for 2016 and during the fiscal year 2016-17.
Besides this, HomeLane is focusing on its continuous expansion and profitability the company’s current revenue run rate is ₹500 crore and is targeting ₹1,800 crore for FY24. HomeLane’s vision is to emphasise quality by specialising in modular furniture, streamlining product options, and embracing equity capital for faster growth, understanding that long-term profitability is paramount in building a valuable company.
Closing Thought
HomeLane was founded by Shrikant Iyer in 2014 and has quickly become one of the leading key players in the interior market, delivering superior quality and cost- effective solutions for their customers. HomeLane has secured multiple funds from various investors and earned the Kitchen Brand Award in 2016 and many more. The company’s vision is to upgrade its quality, prioritising modular furniture and leveraging equity capital for rapid growth.
