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Interior design company HomeLane may acquire DesignCafe: Reports
The deal could take take Homelane's valuation to about Rs 3000 crore.
Established in 2019 by IITians Anurag Kedia and Gagandeep Makker, Pilgrim is one of the fastest-growing Beauty and Personal Care brands that offers 100+ SKUs across facecare, haircare & skincare products, makeup, and fragrances. The brand’s diverse selection of beauty products is made with ingredients sourced from various parts of the world, all of which are approved by PETA and the FDA, highlighted the company. (Image source: Claudio Schwarz via Unsplash)
DesignCafe, home interior services startup is in the process of merging with HomeLane, an interior design solutions company in a stock-swap deal.
The deal will result in the valuation of DesignCafe at about Rs 500 crore and HomeLane at about Rs 3000 crores. The development will bring about a consolidation in the home services industry amid a funding freeze in the technology industry over the past two years, ET reported.
HomeLane has raised $115 million since its inception, and DesignCafe raised $30 million. DesignCafe also raised $5 million from WestBridge Capital along with investment trust and venture debt fund Alteria Capital in March 2023.
Post the acquisition, DesignCafe will operate as an independent brand, as reports indicate. Reports also suggest that HomeLane has been in talks to merge with KKR-backed Livspace. Last year in March, in order to cut costs, HomeLane had handed pink slips to some employees.
Post the merger, the entity may consider an IPO after two years, as per repprts. In 2022, DesignCafe and HomeLane launched Qarpentri and Doowup in the entry-level segment space.
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