(L-R) Vivek Deshpande and Kirit Joshi, founders, Spacewood Furnishings
Spacewood Furnishers Pvt Ltd, which manufactures modular furniture, has raised Rs 300 crore from private equity firm A91 Partners.
Spacewood has raised the fund at a valuation of about Rs 1,200 crore, the company said in a statement on Thursday.
"The investment gives A91 Partners a significant minority stake in Spacewood," it added.
The fund will fuel the company's next phase of expansion, brand-building, and operational strengthening.
Founded in 1996, Spacewood expects to achieve group revenues of about Rs 700 crore in this fiscal. It has integrated furniture manufacturing facilities, spanning over 1 million sq ft.
The company's product portfolio covers modular kitchens, wardrobes, home furniture, pre-hung doors, and office furniture under the SOS brand. Currently, Spacewood has more than 35 exclusive stores across over 20 cities and a dealer network of 500+ partners in 150 towns and cities.
It plans to expand to 100 stores nationwide in the next few years, further strengthening its omnichannel presence through platforms such as Amazon and Pepperfry, the statement said.
Spacewood has raised the fund at a valuation of about Rs 1,200 crore, the company said in a statement on Thursday.
"The investment gives A91 Partners a significant minority stake in Spacewood," it added.
The fund will fuel the company's next phase of expansion, brand-building, and operational strengthening.
Founded in 1996, Spacewood expects to achieve group revenues of about Rs 700 crore in this fiscal. It has integrated furniture manufacturing facilities, spanning over 1 million sq ft.
The company's product portfolio covers modular kitchens, wardrobes, home furniture, pre-hung doors, and office furniture under the SOS brand. Currently, Spacewood has more than 35 exclusive stores across over 20 cities and a dealer network of 500+ partners in 150 towns and cities.
It plans to expand to 100 stores nationwide in the next few years, further strengthening its omnichannel presence through platforms such as Amazon and Pepperfry, the statement said.
