CapriCoast, which is currently available only in Bangalore, will use the funds to expand to six metro cities in India by end of this year, it said in a statement.
It is an e-commerce shop for modular furnishing solutions. It offers a range of kitchens and wardrobes. The portal also offers customisation tools and free design consultations to ensure convenience.
“The US$10 billion modular furnishing market in India is mostly unorganised with minimal quality standardisation, obfuscated pricing and a tedious, high-friction purchase process. We want to change this by providing an engaging, never before customer experience,” said Jawad Ayaz, Founder and CEO of CapriCoast.
“CapriCoast’s online model eliminates middlemen and brings in cost efficiencies that are passed on to the customer, making it possible for the price of a world-class modular kitchen to be 20-25 per cent lower than any other comparable offerings in the market,” he added.
“We see massive growth in the modular furnishing market in India, and see CapriCoast’s disruptive online-led approach as offering the most customer value in terms of product range, transparent pricing and ease of buying,” said Prashanth Prakash, Partner, Accel Partners India.