Bangalore, India, November 20, 2017- Online
home interiors brand, HomeLane.com, today announced the acquisition of
Capricoast.com, a leading online home interiors marketplace, for a
consideration of INR 90 crores. HomeLane.com said that this acquisition will
enable it to offer its customers a smoother and more streamlined home designing
experience enabled by technology.
home interiors brand, HomeLane.com, today announced the acquisition of
Capricoast.com, a leading online home interiors marketplace, for a
consideration of INR 90 crores. HomeLane.com said that this acquisition will
enable it to offer its customers a smoother and more streamlined home designing
experience enabled by technology.
Following the acquisition, the
120-strong team of Capricoast.com will be part of HomeLane.com. Jawad Ayaz, founder
and CEO of Capricoast will join HomeLane.com’s board of directors.
120-strong team of Capricoast.com will be part of HomeLane.com. Jawad Ayaz, founder
and CEO of Capricoast will join HomeLane.com’s board of directors.
HomeLane.com has also launched its
operations in the NCR region. The company already has offices in Gurugram and
Noida, and is further planning to set up an experience center in Gurugram
within the next two months, to offer consumers a first-hand experience for
their home designing and furnishing needs.
operations in the NCR region. The company already has offices in Gurugram and
Noida, and is further planning to set up an experience center in Gurugram
within the next two months, to offer consumers a first-hand experience for
their home designing and furnishing needs.
Speaking on the acquisition, Srikanth
Iyer, co-founder and CEO of HomeLane.com said, “This is a coming together of
two big players in home design with complementary strengths and expertise. The
Capricoast team brings with them a powerful technology back-end that will
further strengthen our product offering and go a long way in making
HomeLane.com the preferred home décor destination for customers across India.
This acquisition also marks the beginning of HomeLane’s next phase of growth
and expansion, given that we have already achieved operational profitability.”
Iyer, co-founder and CEO of HomeLane.com said, “This is a coming together of
two big players in home design with complementary strengths and expertise. The
Capricoast team brings with them a powerful technology back-end that will
further strengthen our product offering and go a long way in making
HomeLane.com the preferred home décor destination for customers across India.
This acquisition also marks the beginning of HomeLane’s next phase of growth
and expansion, given that we have already achieved operational profitability.”
“We have already achieved a position
of dominance in Bangalore, Hyderabad, Chennai and Mumbai and are now ready to
serve homeowners in the NCR” Srikanth added.
of dominance in Bangalore, Hyderabad, Chennai and Mumbai and are now ready to
serve homeowners in the NCR” Srikanth added.
Jawad Ayaz said, “We believe
Capricoast’s strong technology core in customer acquisition and lifecycle
management will be a perfect foil to HomeLane.com’s unparalleled strengths in
design visualization and project execution. This integration is a win-win for
home design customers as well as for HomeLane.com, which cements its position
as the online home interiors industry leader with an unbeatable combination of
transparency and predictability, backed by technological capabilities.”
Capricoast’s strong technology core in customer acquisition and lifecycle
management will be a perfect foil to HomeLane.com’s unparalleled strengths in
design visualization and project execution. This integration is a win-win for
home design customers as well as for HomeLane.com, which cements its position
as the online home interiors industry leader with an unbeatable combination of
transparency and predictability, backed by technological capabilities.”
HomeLane’s value proposition is
solving the interior design problem with technology and predictable timelines.
HomeLane’s SpaceCraft, a one of its kind virtual design platform, is an industry-first
digital platform that helps homeowners co-design their homes virtually with the
designer, ruling out the requirements of multiple physical meetings and back
and forth on designs and pricing. SpaceCraft comes with a real-time integrated
pricing engine that helps the homeowners to keep an eye on the project price at
all times during the design finalization process.
solving the interior design problem with technology and predictable timelines.
HomeLane’s SpaceCraft, a one of its kind virtual design platform, is an industry-first
digital platform that helps homeowners co-design their homes virtually with the
designer, ruling out the requirements of multiple physical meetings and back
and forth on designs and pricing. SpaceCraft comes with a real-time integrated
pricing engine that helps the homeowners to keep an eye on the project price at
all times during the design finalization process.
HomeLane.com is also a pioneer in the
organized online home furnishing market and offers an industry-first 45-day
delivery guarantee for fit-outs. HomeLane, till date, has raised about $15
million in venture funding from marquee investors like Sequoia Capital, Aarin,
Growth Story and Baring PE.
organized online home furnishing market and offers an industry-first 45-day
delivery guarantee for fit-outs. HomeLane, till date, has raised about $15
million in venture funding from marquee investors like Sequoia Capital, Aarin,
Growth Story and Baring PE.
