Spacewood Furnishers, a modular furniture manufacturer and brand, has raised ₹300 crore in funding from A91 Partners, a marquee private equity firm, at a valuation of ₹1,200 crore.
The investment gives A91 Partners a 25% minority stake in Spacewood.
The funds raised will be used for technology upgrades, process automation, and talent acquisition to strengthen its operations and retail presence.
Founded in 1996 by Kirit Joshi and Vivek Deshpande, Spacewood is a premium brand and manufacturer of Modular Furniture. In 2011, Nitin Sudame joined as the founder of Spacewood Office Solutions (SOS), leading the company’s expansion into the office furniture segment.
Spacewood operates an integrated furniture manufacturing facility, spanning over 1 million sq. ft. and equipped with panel and sheet metal processing technologies. Its diverse product portfolio covers modular kitchens, wardrobes, home furniture, pre-hung doors, and office furniture under the SOS brand.
Its enterprise business serves India’s largest corporations and real estate developers. The Spacewood Office Solutions division has delivered workplace solutions for more than 1000+ corporates with leading names such as Accenture, Capgemini, HDFC, and Adani Group. Besides, it works with leading educational institutions for their furniture.
Meanwhile, its Sumai Doors division partners with 200 + developers in India with leading names such as Godrej Properties, DLF, Lodha, M3M, Kolte Patil, and more, reinforcing its credibility in the B2B space.
Currently, Spacewood has 35+ exclusive stores across 20+ cities and a dealer network of 500+ partners in 150 towns and cities. It plans to expand to 100 stores nationwide in the next few years, further strengthening its omnichannel presence through platforms such as Amazon and Pepperfry.
For FY26, the company expects to achieve group revenues of approximately ₹700 crore. With A91 Partners’ backing, Spacewood aims to accelerate its revenue trajectory, targeting 25–30% annual growth over the next five years with a focus on profitability.
Kirit Joshi, Co-founder and Director, Spacewood, said, “We are excited to have A91 Partners on board. Beyond capital, they bring deep experience in scaling consumer brands, which will be invaluable as we embark on our next growth phase.”
Abhay Pandey, Partner at A91 Partners, said, “We are looking forward to the opportunity to partner with Kirit, Vivek, and Nitin in further building a dominant company in the large and growing market of home and office improvement.”
