Wooden Street, a furniture and home decor brand, has raised ₹354 crore (approximately $43 million) in a Series C funding round led by Premji Invest, a global investment firm.
The funds raised will be used to scale its retail footprint by opening new stores in tire-1 and tier-2 cities. The company also plans to expand its manufacturing capabilities, diversify its product portfolio, and strengthen its supply chain.
“This funding is a result of the hard work and dedication of the entire Wooden Street team. It reflects the trust our customers and investors placed in us. With Premji Invest’s support, we are poised to accelerate our mission of redefining how India experiences furniture, blending innovation with tradition at every step,” Lokendra Ranawat, CEO & Co-founder of Wooden Street.
“We plan to utilize funding to fuel aggressive business expansion. The company will scale its retail footprint by opening new stores in tier-1 and tier-2 cities, in the coming years, enhancing its omni-channel presence. Wooden Street also aims to expand its manufacturing capabilities, diversify its product portfolio, and strengthen its supply chain,” said, Dinesh Pratap Singh, Co-founder, Wooden Street
“Indian consumers are increasingly seeking stylish, high-quality home and furniture products at affordable prices. With a vertically integrated supply chain, in-house manufacturing in India, and exclusive experience stores, Wooden Street has proven its ability to deliver beautifully crafted designs, exceptional quality, and competitive pricing. We are excited to partner with Wooden Street as they continue to delight customers with premium, made-in-India furniture,” said, Kaveesh Chawla, Partner, Premji Invest.
Founded in 2015 by Lokendra Ranawat, Virendra Ranawat, Dinesh Pratap Singh & Vikas Baheti, Wooden Street currently operates seamlessly across both online and offline channels. It works on a company-owned company-operated (COCO) model and has a network of more than 100 experience stores across the country.
The company has 100+ experience stores, 20+ warehouses, and a 15 lakh sq ft manufacturing facility spread across India.
