Homelane provides architecture modules for kitchen spaces, bedrooms, and added appliance sets like wardrobes, accumulator units, and abstraction tables to homeowners.
Bengaluru: Online appliance and architecture aggregation Homelane on Monday said it has acquired Capricoast.com, an online exchange for home autogenous appurtenances for Rs 90 crore. Homelane’s arch controlling Srikanth Iyer said in an account that the start-up will use the accretion to enhance its technology and aggrandize into new categories.
Post-acquisition, Capricoast’s aggregation of 120 advisers will be a allotment of Homelane, the aggregation said in a statement. Jawad Ayaz, architect of Capricoast will accompany HomeLane.com’s board.
“The Capricoast aggregation brings with them a able technology back-end that will added strengthen our artefact offering. This accretion additionally marks the alpha of HomeLane’s abutting appearance of advance and expansion, accustomed that we accept already accomplished operational profitability,” Iyer said in a statement.
Homelane provides architecture modules for kitchen spaces, bedrooms, and added appliance sets like wardrobes, accumulator units, and abstraction tables to homeowners. It uses a proprietary basic absoluteness belvedere called SpaceCraft that helps homeowners accomplish basic designs of their homes with advice from a able designer.
The aggregation additionally has an associate programme for sourcing designers assimilate the platform. Homelane pays a 6% agency to associate designers for every architecture activity that they booty up for customers. Home Lane will accomplish and install the appliance at the customer’s armpit while the artist will baby-sit chump accord as well.
Homelane is present in Bangalore, Chennai, Hyderabad, Mumbai and NCR cities. It was founded in 2014 by Srikanth Iyer and Rama Harinath. Iyer told Mint that the aggregation has completed about 1,700 architecture projects till date at an boilerplate amount of Rs6.5 lakh per project.
Most of the company’s barter are new home owners with actual few echo purchases and it targets new homes amid Rs55 lakh and Rs2 crore, Iyer added.
Till date, Homelane has aloft about $15 actor in adventure allotment from investors such as Sequoia Capital, Aarin, Advance Story and Baring PE. Its adversary Livspace afresh appear that it would advance Rs70 crore in its associate action which allows freelance designers and architects to advertise their home designs on Livspace.
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