InnoDesigns raises Rs 75Cr from PAN Group

innodesigns funding

A new online furniture marketplace, InnoDesigns, announced that it has raised funds worth Rs 75 crore from the PAN Group.

The business model of InnoDesign will be to build a platform where customers can pick any of the furniture designs and get it built by the listed carpenters and small and medium scale manufacturers located in that particular city.

The manufacturing partners including the carpenters will be chosen based on their experience and skill as the startup promises flexibility as well as affordability for its customers.

InnoDesigns is looking to begin its operations from two cities – Kochi and Coimbatore and strives to have a national presence later. The freshly raised funds will be utilized for market expansion, technology development, and hiring of talent.

Speaking about the funding, Nidhey A Pan, Founder and CEO, InnoDesigns, said, “We are excited to launch this unique ecosystem of buying furniture, Home décor, and any other thing for a home. We have launched first in the south of India and in the coming few months in cities like Mumbai, Delhi-NCR, and other regions of India.”

The startup will be focused on the home furniture and décor market with plans to use technology to offer a new kind of customer experience.

It promises that the products to be sold on its platform will be more affordable than offline stores. Apart from this, InnoDesigns will also offer additional income-generating opportunities for the carpenters and SMBs involved in this woodwork segment.

Neetii Maacker, COO, InnoDesigns, said, “Our primary focus is on ensuring 100 percent customer satisfaction, thereby creating a special place for the brand InnoDesigns in the fast-evolving sector of furniture. At InnoDesigns, we follow the best standards of design and craftsmanship.”

The PAN Group is a family-run business headed by Arvindbhai Pan headquartered in Rajkot, Gujarat. It has business interests in fields like cotton, cement, edible oil, cattle feed, health and hygiene products, hygiene, and medical-grade nonwoven materials.

InnoDesigns seems to be starting off with an innovative idea that will help small businesses and customers alike. I’m sure the company will be very successful in the time to come. My best wishes to the team of InnoDesigns.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at taniya@startuplanes.com