PE Fund Investments
Furniture brand Wooden Street raises Rs.354-Cr in Series C led by Premji Invest
Jaipur-based D2C (direct-to-consumer) furniture startup Wooden Street has raised INR 354 Cr (around USD 43 million) in a Series C funding round led by Premji Invest. The fresh capital will be used to open new stores in metropolitan and non-metropolitan cities and to strengthen its manufacturing capability.Founded in 2015 by Lokendra Ranawat, Virendra Ranawat, Dinesh Pratap Singh and Vikas Baheti, Wooden Street sells furniture and home decor products through its website, e-commerce portals as well as offline stores across cities.For FY23, Wooden Street reported a net profit after tax (PAT) of INR 99.17 lakh, down about 20% from INR 1.23 crore in FY22.
Between 2018 and 2023, Woodenstreet had raised about USD 34 M from Rajasthan VC, IAN Fund, and WestBridge.For FY24, Wooden Street had reported about INR 255.37 Cr in Operating Income and about INR 10.92 Cr in Net loss.
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