Homelane
| Company type | Private |
|---|---|
| Industry | Interior design |
| Founded | 2014 |
| Founder | Srikanth Iyer, Tanuj Choudhry |
| Headquarters | , |
Area served | India |
| Revenue |  ₹1,000 crore (US$120 million) (FY24)[1] |
 ₹−694 crore (US$−83 million) | |
| Website | www |
Homevista Decor and Furnishings Private Limited, commonly known as HomeLane is a home interior and renovation company headquartered in Bengaluru, India. It provides services under designing, manufacturing and installation of modular furniture for homeowners. HomeLane has over 44 experience centres spread across 22 cities in India.[2][3]
History
[edit]Srikanth Iyer, a computer science engineer and former Wipro employee, began his entrepreneurial journey by founding Total Solutions, a company that focused on selling desktop computers. In 2000, he established Edurite Technologies, an educational technology firm, which was acquired by TutorVista in 2007. Pearson later acquired TutorVista in 2011, after which Iyer served as CEO of Pearson India.[2] During his tenure, he worked on expanding private school services in India.[2]
In 2014, Iyer co-founded HomeLane with Rama Harinath, Prabhu Venkatesh, and Vivek Parashuram to address the growing demand for modular and customisable home interiors in India. Tanuj Choudhry joined HomeLane as Head of Growth. He was elevated to a co-founder in 2020.[2] He holds a degree in mathematics from St. Stephen’s College, Delhi, and an MBA from INSEAD. Prior to joining HomeLane, Choudhry co-founded SkillKindle, an online platform for skill-sharing. He has also worked with McKinsey & Company and Amazon, gaining experience in business strategy and operations. In addition to his role at HomeLane, Choudhry is involved in mentoring early-stage startups.[2]
HomeLane initially worked with independent design partners but later transitioned to employing in-house designers. The company is supported by a team of professionals specialising in design, technology, and business operations. As of 2024, it operates in multiple cities across India, offering modular interior design solutions.
Growth and Expansion
[edit]HomeLane has raised multiple rounds of funding since its inception. In February 2015, the company secured ₹27 crore in funding from investors such as Sequoia Capital, GrowthStory, and Aarin Capital. By 2021, HomeLane’s revenue had grown to ₹268 crore. The company introduced several innovations, including SpaceCraft, a 3D visualisation tool for interior design, launched in 2019.[4]
In recent years, HomeLane has expanded its operations to over 22 cities across India. In 2021, the company appointed cricketer Mahendra Singh Dhoni as a brand ambassador, with Dhoni also investing in the company. In November 2023, HomeLane raised $105 million, followed by an additional ₹225 crore in September 2024, which helped fund the acquisition of Design Café.[5][6][7][8]
Acquisitions and Partnerships
[edit]HomeLane has pursued strategic acquisitions to enhance its technological capabilities and service offerings. In 2015, HomeLane acquired the virtual technology company Doowup. In 2017, HomeLane acquired Capricoast, an online marketplace for home interiors, for $13.8 million. The company also partnered with furniture and decor retailer Urban Ladder.[9][10][11][12]
Operations
[edit]HomeLane launched its first operations in Bengaluru in 2014 and has since expanded to several major cities, including Chennai, Hyderabad, and Mumbai. As of 2024, HomeLane operates 44 experience centres across India and has introduced Doowup centres to support its affordable home interiors segment. The company’s valuation is reported to have reached approximately $7 billion.[4][13]
References
[edit]- ^ "HomeLane to acquire Design Café, raises ₹225 crore from Hero Enterprise, WestBridge and others". Mint (newspaper).
- ^ a b c d e "How third-time entrepreneur Srikanth Iyer got it right". Forbes.
- ^ "Homelane banks on commercial interior design business". Mint (newspaper).
- ^ a b Dwivedi, Vinay (6 June 2017). "Startup HomeLane offers you customised modular home design solutions". The Economic Times.
- ^ Rajendra, Ranjani (21 May 2019). "SpaceCraft by HomeLane: a tech for interiors". The Hindu.
- ^ "HomeLane leverages OTT platforms for latest campaign - ET BrandEquity". The Economic Times.
- ^ "HomeLane turn cash positive, eyes ₹700 cr topline". The Times of India. 23 November 2023.
- ^ "HomeLane to acquire Design Café, raises ₹225 crore from Hero Enterprise". Mint.
- ^ Russell, Ishita. "HomeLane acquires home decor visualisation platform Doowup". e27.
- ^ Shrivastava, Aditi (16 September 2015). "Home furnishing solutions provider Homelane adds tech muscle, buys Doowup". The Economic Times.
- ^ Soni, Yatti (27 April 2023). "HomeLane forays into affordable home interiors with DOOWUP". BusinessLine.
- ^ "HomeLane opens two new Doowup stores". FashionNetwork.com.
- ^ "HomeLane turn cash positive, eyes ₹700 cr topline". The Times of India. 23 November 2023.