Bengaluru-based interior design firm Bonito Designs is set to secure Rs 81 crore (approx. $9.5 million) in funding from its existing investor and holding company, Tomorrow Capital, according to regulatory filings accessed via the Registrar of Companies (RoC).
The fresh infusion comes after a funding pause of nearly two years. Bonito last raised Rs 40 crore in June 2023 from a consortium comprising HDFC, Tomorrow Capital, and Lodha Ventures.
In a special board resolution passed this May, Bonito Designs approved the issuance of 28,357 Class A equity shares at Rs 28,564 per share to Tomorrow Capital. So far, Rs 51 crore has already been received, with the remaining funds expected shortly.
Following this transaction, Bonito’s post-money valuation stands at approximately Rs 531 crore (around $62.5 million)—an 18% decrease from its previous valuation of Rs 650 crore. The round will also see Tomorrow Capital increase its ownership stake to 67% on a fully diluted basis, according to data from TheKredible.
Founded in 2012 by Sameer AM and Vathsala CR, Bonito Designs provides end-to-end interior solutions for both premium and affordable housing segments, combining curated design with cost-effectiveness.
To date, Bonito has raised nearly $22 million in total funding. Despite market headwinds, the company reported a 50% surge in operating revenue in FY24, growing from Rs 104 crore to Rs 153.4 crore. However, its net loss more than doubled to Rs 66.9 crore in the same period.
Bonito Designs competes with prominent players such as Livspace, HomeLane, and DesignCafe—the latter of which was recently acquired by HomeLane—indicating growing consolidation and competition in the online interior design market.
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