Interior design co Bonito attracts Rs.40-Cr from HDFC, Tomorrow Capital, others

Mortgage lender Housing Development Finance Corporation (HDFC), Tomorrow Capital and a few high networth individuals (HNIs) have invested INR 40 crore in Lodha Ventures-backed interior design firm Bonito Designs. The funding round values the company at INR 650 crore. This strategic alliance with HDFC is expected to help the company deepen its presence in Mumbai and Bengaluru while working on expansions in Hyderabad and Pune. A substantial portion of the investment will be deployed to strengthen technology. Prior to this third round of investment, Tomorrow Capital had invested INR 120 crore in the company including its first investment in 2019 and owned over 72% of the company. Tomorrow Capital now holds 67% in the design company.