Bonito Designs, Indian interior designing brand, has raised a sum of $6.3 million in its Pre-Series A round of funding. Led by Tomorrow Capital, a $100 million early-stage strategic investment fund, the latest funding marks a major highlight in Bonito Designs’ growth trajectory. The Bangalore-based company will utilize the fresh capital to extend its operations and ramp up the production. It also announced that a large portion of the funding will be allocated for R&D to build processes and delivery know how to bring personalization and international appeal to every family and home we touch.
Discussing the company’s future plan,Sameer A.M,CEO ofBonito Designs, said, “We want to make our designs accessible to a larger audience who currently have minimal options from the services offered by the unorganized players. Our vision is simple; providing designer home solutionsto customers as per their preferences and requirements and more. This funding will help us realize our dream and strengthen Bonito’s foothold in the industry. Thanks to Tomorrow Capital, we have more firepower to improve our digital infrastructure and expand our product base. Bangalore will be our initial focus, but we are also eyeing the markets in other metro cities. We believe in the democratization of design, with a level playing field for both organized and unorganized players. ”
“The interior designer market in India is unorganized in most parts but a shift is taking place. With new-age customers looking for quality designs, the demand for organized companies like Bonito is on the rise,” he added further.
Sharing his insight, Rohini Prakash , CEO of Tomorrow Capital,commented, “Bonito Designs is a brand that uses a process-driven delivery model to provide unique design solutions. The brand’s philosophy – ‘everyone deserves a designer home’ is what caught our attention. We are confident that their focus on design and customer-centric approach will help them become the undisputed leader in the interior designing landscape of India. We are truly excited to become a part of Bonito Designs’ journey ahead.”
Founded in 2012, Bonito Designs has been working towards its goal of making great designs accessible to Indian customers at affordable prices. Headquartered in Bangalore, the company will soon be foraying into Mumbai, Pune and Hyderabad.
Source: BW Disrupt