Online Furniture Marketplace, CapriCoast Raises $3.5 Million In Series A Funding

Company Name : CapriCoast
Funding Amount : Rs 23 crore
Investor(s) Accel Partners RB Investments. .
Funding Round : Series A

CapriCoast has raised $.3.5 million in Series A from existing investor Accel Partners and Singapore-based firm RB Investments.

The e-tailor for online modular furnishing will use the raised funds to broaden and accelerate product development and to expand its sales, marketing and hiring efforts. The company’s head of marketing and sales Jidesh Haridas, will take up the role of chief operating officer (COO).

capricoastCapriCoast through its online-to-offline model is working with 50 showrooms across 15 cities in India and will be in 200+ showrooms across 50+ cities by early 2016.

“Capricoast is levelling the playing field for the highly-fragmented and unorganized modular furnishing market in India. Our online-to-offline (O2O) market place model, addresses the problems that customers face today while buying modular furnishing – Obfuscated pricing, delayed delivery, limited choice and lack of transparency. CapriCoast is pioneering a data science led, transformative technology that is rapidly changing the way customers experience the buying modular furnishing in India,” said Jawad Ayaz, founder and CEO, CapriCoast.

Earlier, CapriCoast had raised $1.25 million from Accel Partners.

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