Transteel raises Rs 4 Cr through Klub
Transteel, a D2C brand for office furniture, announced that it has received growth capital of Rs 4 crore from investors, including revenue-based financing player, Klub.
Founded in May 2020, Transteel provides premium office furniture built for startups, small- and medium-sized business owners. With delivery all across India, the startup is engaging directly with the consumers which helped them secure 40,000 online orders since May 2020.
Shiraz Ibrahim, Managing Director, Transteel said, “It gives us great confidence that our investors are in line with our vision of promoting the consumer/MSME/SME verticals of Transteel. This funding will definitely help us in developing our business and will boost our mission of providing affordable furniture directly to the end consumer that is delivered and installed in as little as a week, with a “buy now, work now” approach to suit the fast-paced nature of start-up and small business culture.”
Anurakt Jain, Co-founder and CEO, Klub added, “What sets Transteel apart from other players, is their specialization in manufacturing office and home furniture offering a delightful mix of design, value for money, and most importantly ergonomics. Their digital-first approach to make furniture solutions accessible to a large set of customers disrupts the traditional retail model.”
Transteel’s Co-founder and Managing Director Shiraz Ibrahim said, “Companies have two bad options when purchasing office furniture. They can purchase office furniture through traditional furniture dealers, which is expensive, slow, and confusing, or they can purchase inexpensive ‘fast furniture from online marketplaces which though convenient in the short term isn’t built to last in an office environment and offers very little in terms of after-sales customer support and understanding individual customer needs”.
Transteel is in an advanced stage of concluded a Rs 45 crore Series A round in the funding to further scale its business and plans to utilize the freshly raised funds to boost product development and national reach.
Transteel seems to be an interesting startup in the office furniture space. I’m sure the company will continue to prosper in its journey ahead. My best wishes to the team of Transteel.Shishir Gupta, Founder and CEO, StartupLanes
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