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Home Decor Startup MyGubbi Raises $2.7 Mn Pre-Series A Funding

Home Decor Startup MyGubbi Raises $2.7 Mn Pre-Series A Funding

Customized home interiors decor startup MyGubbi has raised $2.7 million pre-series A funding led by the family office of Firoze Irani; Vipul Parekh(co-founder BigBasket), Ananda Kallugadde(co-founder of NeoBytes) and Rajesh K Murthy(President Infosys), among others.

Founded by Umesh Sangurmath and Ravi Rao in 2015, MyGubbi (Kannad for ‘My Sparrow’), the startup aims on the interior design and furnishing solutions; allowing its customers to design their dream homes.

The company earlier raised a funding of around $2.5 million by Vipul Parekh and others.


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The funds raised will be utilized to grow the business.

“We would look at going deeper into existing markets, as well as strengthen our backend. We are also setting up a design centre of excellence in Bengaluru, which is where these funds would be deployed,” Sangurmath told ET.

The online furniture market size in India is estimated to be around $30 billion.

 


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