HomeLane acquires Capricoast for Rs 90 cr
Online home interior brand HomeLane.com today said it has acquired Capricoast for Rs 90 crore.
The acquisition will enable HomeLane.com to offer customers a smoother and more streamlined home designing experience enabled by technology, HomeLane said in a statement.
"The Capricoast team brings with them a powerful technology back-end that will further strengthen our product offering," HomeLane.com co-founder and CEO Srikanth Iyer said.
This also marks the beginning of HomeLane s next phase of growth and expansion, given that the company has already achieved operational profitability, he added.
As part of the deal, the 120-people team of Capricoast will become part of HomeLane with Jawad Ayaz (founder and CEO of Capricoast) joining HomeLane.com's board of directors.
Besides, HomeLane has launched its operations in the NCR and has offices in Gurugram and Noida. It already has operations in Bengaluru, Hyderabad, Chennai and Mumbai.
HomeLane plans to set up an experience centre in Gurugram within the next two months, the statement said.
HomeLane, till date, has raised about USD 15 million in venture funding from investors like Sequoia Capital, Aarin, Growth Story and Baring PE.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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