Furnishka raises Rs 27 crore in funding round led by India Quotient

Bengaluru-based home décor retailer Furnishka has raised Rs 27 crore ($3.2 million) in a pre-series A funding round led by India Quotient. The funding round also saw participation by Sparrow Capital and angel investors Sujeet Kumar and Ramakant Sharma.

The company will use the funds to enhance product development, strengthen manufacturing & supply chain operations, and retail expansion.

Furnishka currently operates four large-format stores in Bangalore and plans to open six large-format stores in the coming months.

Commenting on the investment, Anand Lunia, partner at India Quotient in a statement said, “There’s a significant gap in the market for organised, trusted players offering high-quality furniture at affordable prices in a large-format retail. We were impressed by the positive customer feedback and the Furnishka team’s exceptional dedication to customer satisfaction.”

Ganesh Pawar, founder of Furnishka added, “Our supply chain optimization efforts have enabled us to offer products at 20% below market averages for entry-level furniture and 30-40% less for premium options, without compromising on quality. This efficiency has led to high customer satisfaction, with many customers returning for repeat purchases and referring others.”

Founded in 2023 by Ganesh Pawar, Furnishka offers premium furniture at affordable prices. It claims to have served over 10,000 customers across the country.