Wooden Street, a leading furniture and home decor brand in India, has raised INR 354 crore (approximately USD 43 million) in a Series C funding round led by Premji Invest. This brings the company’s total funding to USD 78 million, following a USD 30 million investment from Westbridge in April 2022. The Jaipur-based company plans to use the fresh capital to fuel aggressive expansion plans.
This includes opening more experience stores in tier-I and tier-II cities to strengthen its omni-channel presence. Wooden Street also aims to enhance its manufacturing capabilities, diversify its product portfolio, and bolster its supply chain. Lokendra Ranawat, CEO and co-founder of Wooden Street, said, “This funding reflects the hard work of our team and the trust our customers and investors place in us.
With Premji Invest’s support, we are set to redefine furniture experiences in India, blending innovation with tradition.
Premji Invest will provide not only financial backing but also strategic guidance to help Wooden Street scale its operations.
Wooden Street expands with fresh capital
Kaveesh Chawla, Partner at Premji Invest, remarked, “Indian consumers increasingly demand stylish, high-quality, and affordable furniture.
Wooden Street’s vertically integrated supply chain, in-house manufacturing, and exclusive stores make them a leader in this segment.”
Founded in 2015 by Lokendra Ranawat, Virendra Ranawat, Dinesh Pratap Singh, and Vikas Baheti, Wooden Street operates on a company-owned, company-operated (COCO) model. The company’s footprint includes 102 experience stores, 20 warehouses, and a 15 lakh sq ft manufacturing facility. In FY24, the company reported INR 260 crore in revenue with minimal losses of INR 10.9 crore, reflecting its strong business fundamentals.
Known for its innovative designs, quality craftsmanship, and affordability, Wooden Street caters to Indian households seeking premium, functional furniture. With this new funding, Wooden Street is poised to strengthen its market presence and continue delighting customers with its made-in-India offerings. The investment underscores the growing investor interest in India’s home and furniture sector, driven by increasing urbanization, rising disposable incomes, and a shift toward organized retail.
