Wooden Street, a furniture and home decor brand, has successfully raised Rs 354 crore (approximately $43 million) in a Series C funding round led by Premji Invest. This marks one of the largest capital infusions in the home and furniture sector in recent years, highlighting the brand’s growing prominence.
Founded in 2015 by Lokendra Ranawat, Virendra Ranawat, Dinesh Pratap Singh, and Vikas Baheti, Wooden Street has become a household name in India’s furniture market, celebrated for its innovative designs, superior craftsmanship, and affordability. Operating on a Company Owned Company Operated (COCO) model, the brand boasts 102 experience stores, 20+ warehouses, and a 15 lakh sq ft manufacturing facility across the country.
Lokendra Ranawat, CEO of Wooden Street, expressed gratitude towards the team and stakeholders, emphasizing the brand’s mission to redefine India’s furniture experience by merging innovation and tradition. The newly raised capital will drive aggressive business expansion, including the opening of new stores in tier-1 and tier-2 cities, enhancing the brand’s omni-channel presence. Additionally, the funds will support scaling manufacturing capabilities, diversifying the product portfolio, and strengthening the supply chain.
Premji Invest’s Partner, Kaveesh Chawla, remarked on the increasing demand among Indian consumers for stylish, high-quality home and furniture products at affordable prices. He praised Wooden Street’s vertically integrated supply chain, in-house manufacturing, and exclusive experience stores for delivering beautifully crafted, premium, made-in-India furniture, expressing excitement about partnering with the brand as it continues to delight customers nationwide.
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