Furniture & home decor brand Wooden Street raises Rs 354 crore in funding from Premji Invest

Wooden Street, a furniture & home decor brand, has raised Rs 354 crore (approximately $43 million) in a Series C funding round led by global investment firm Premji Invest.

Notably, this is one of the largest capital raises in the home & furniture sector in recent years.

Founded in 2015 by Lokendra Ranawat, Virendra Ranawat, Dinesh Pratap Singh, and Vikas Baheti, Wooden Street has emerged as a household name in India’s furniture market.

Known for its innovative designs, quality craftsmanship, and affordability, the company caters to Indian households, seeking stylish yet functional furniture.

Wooden Street's market presence

Operating on a Company Owned Company Operated (COCO) model, the company claims to have 102 experience stores, 20+ warehouses, and a 15 lakh sq ft manufacturing facility spread across the country.

“This funding is a result of the hard work and dedication of the entire Wooden Street team. It reflects the trust our customers and investors placed in us. With Premji Invest’s support, we are poised to accelerate our mission of redefining how India experiences furniture, blending innovation with tradition at every step," said Lokendra Ranawat, who is also the CEO of Wooden Street.

Purpose of fundraising

According to Dinesh, Wooden Street plans to utilize funding to fuel aggressive business expansion. The company will scale its retail footprint by opening new stores in tier-1 and tier-2 cities, in the coming years, enhancing its omni-channel presence.

It also aims to expand its manufacturing capabilities, diversify its product portfolio, and strengthen its supply chain.

“Indian consumers are increasingly seeking stylish, high-quality home and furniture products at affordable prices. With a vertically integrated supply chain, in-house manufacturing in India, and exclusive experience stores, Wooden Street has proven its ability to deliver beautifully crafted designs, exceptional quality, and competitive pricing. We are excited to partner with Wooden Street as they continue to delight customers with premium, made-in-India furniture," said Kaveesh Chawla, Partner, Premji Invest.