Bedbathmore.com, the online marketplace for all your home furnishings needs, is looking to invest a massive $20 Million to fuel an aggressive expansion strategy. And as a part of that strategy, the company is also looking to close a $7-$10 Million funding round from numerous VCs over the next one and a half month.
BedBathMore, founded by Amit Dalmia details its objective as that of bringing the best in home furnishing in a digital setting to discerning Indian shoppers who love their homes. The startup, which has till date been internally funded by Blume Ventures, recently acquired Homado (an interior designers’ community) and Crude Area (an arts startup dealing with interior designing).
The company, which started as a marketplace for home furnishing products, recently re-aligned its business from a pure-play commerce model to a content-community-commerce model, will invest the funds to build its product offering as well as technology. The company will also be doubling its team size, increasing from the current 100-member team to over 250 by the end of the current fiscal.
While there are numerous similar ventures in the home furnishings and interior designing domain, Bedbathmore differentiates itself from the rest, by being the only platform in India that has integrated content, community and commerce into a single bundle to create a complete home solution of online users. And looking at how our social life is intensely affected by online community discussions, this could well turn out to be a USP of sorts for BedBathMore.
The company is also looking at projecting itself as more of a “discovery” platform, rather than an e-commerce one. “We don’t want to be viewed just as a commerce company but as a discovery based company. BedBathMore.com will be a disruptive and an integral part of bridging the gaps, currently not being looked at in the market.“, says Dalmia
BedBathMore.com is currently promoted and internally funded by Vijay Agarwal, who’s the Founder & Chairman of the Creative Group of companies and Blume Ventures. Blume Ventures is an early-stage VC fund with investments in numerous domains.