Mumbai-based Hipcouch, an online B2B furniture solutions provider, has reportedly raised about $700K in Angel round of funding from a clutch of individuals including founders of public limited companies and fund managers.
Launched in 2016 by Parikshat Hemrajani and Pankaj Poddar, Hipcouch functions as a B2B portal, connecting furniture designers with verified vendors who create the furniture as per the orders from the designer. Designers can register themselves on the startup’s web portal and connect with vendors.
Currently operational in Mumbai, the startup already has over 100 vendors on board. It now further plans to add 2,000 vendors on its platform and expand to other cities including Bangalore, Pune, Delhi/NCR, and Chennai.
Speaking on the development, Parikshat Hemrajani, co-founder at Hipcouch said, “We are building a technology that will allow designers to get real-time quotes for orders that they are customising for home-owners and part of the proceeds from the fund-raising will help us build this solution.”
This is the second startup founded by the entrepreneur-duo. Prior to this, they founded and thereafter sold substantial stakes in Dwll.in, an online portal that connects interior designers to customers buying furniture online, to Bessemer Venture Partners-backed Livspace in 2015.
Other startups operating in this space include Housify, UrbanLadder, PepperFry, FabFurnish, etc.