News Startups

Online Home Furnishings Marketplace CapriCoast Gets ₹23 Cr From Accel Partners & RB Investments

Share on Facebook
Tweet about this on TwitterShare on Google+Share on StumbleUponShare on LinkedInPin on PinterestShare on Reddit

CapriCoast, an online marketplace in the ever mushrooming home furnishings segment, has grabbed a $3.5 Million (₹23 Cr.) Series A round from existing investors Accel Partners and Singapore-based VC firm RB Investments.

The startup, which raised just north of a Million USD in April this year, works on a unique online-offline model, wherein the consumers place order on its website and complete it offline with the vendor.

As per stats available with ET, CapriCoast records 85% users completing the buying process offline — largely due to its tie-ups with interationally reputed offline brands such as Spacewood, StyleSpa and Asian Paints subsidiary Sleek International. The average ticket size too, as a result of this pivoted model has gone up to  ₹3.5 Lacs, a 175% increase as compared to the previously recorded ₹2 Lacs.

Jawad Ayaz, founder and CEO of CapriCoast commented,

A considerable part of our funding will be deployed for key hires in the area of technology and sales and marketing.

As a part of that executive team building strategy, Jidesh Haridas, who previously worked at Zansaar, will almost immediately take up the role of chief operating officer (COO) at CapriCoast.


Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *