Private Equity

PE Fund Investments

Furniture seller WoodenStreet raises $15-M in Series B led by WestBridge

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Jaipur-based omnichannel custom furniture platform WoodenStreet has raised USD 15 million (INR 110 crore) in the ongoing Series B round led by WestBridge. WoodenStreet has issued 10 equity shares and 1,415 Series B CCPS amounting to INR 110 crore to WestBridge. The company had previously raised USD 3 million in a Series A round led by IAN Fund and Rajasthan Venture Capital Funds (RVCF) in June 2020. WoodenStreet is estimated to have raised the fresh round at a post-money valuation of INR 1,125 crore (USD 148 million), marking an eight-fold jump in valuation as compared to USD 18 million during the last round. For the fiscal year ending on March 31, 2021, WoodenStreet recorded a surge of 95.1% in its operating revenue to INR 70.75 crore from INR 36.26 crore in FY20.