Home decor and furnishing start-up MyGubbi on Monday announced raising USD 2.5 million in their Pre-series A round, primarily to be channelised towards strengthening operations and further expansion of the footprint.
The finance was raised from angel investors led by the family office of Firoze Irani, Vipul Parekh, co-founder of Big Basket; Ananda Kallugadde, co-founder of NeoBytes; and Rajesh K Murthy, President of Infosys, amongst others.
"The funds raised will primarily be used to strengthen operations in our current cities -Bangalore, Chennai, Pune and Mangalore. In the immediate future, we intend to expand to Hyderabad, as well. Our core focus would be to enhance customer delight through our distinctive experience centers," said Umesh Sangurmath, co-founder MyGubbi.
MyGubbi's business model addresses a key challenge in the execution of home interiors: providing end-to-end solutions, from design to execution, along with the flexibility of customisation. With a belief that a robust backend infrastructure is required for sustaining efficient service delivery, MyGubbi has invested in a fully-operational manufacturing unit with state-of-the-art German and Italian machinery.
"Since its inception, MyGubbi has concentrated on modular furniture, but given that decor and furnishing also play an integral role in setting up the home, we intend to further strengthen our presence in these categories", said Ravi Anand Rao, Co-founder, MyGubbi.
As of today, MyGubbi has done over 600 homes and takes pride in its set of curated designs and technology assisted processes for amplified momentum. They also have strong local ecosystems of vendors and service providers. The founders are confident that this new funding will enable MyGubbi to step up its efforts in innovation and technology to become one of the leading providers of home interior solutions.
MyGubbi uses automated tools to streamline their process right from the inception of the project until the delivery of the same. This helps reduce their lead time, which otherwise has been a major concern in this industry. MyGubbi strongly believes in staying 'connected' with their customers, and their automated tool enables them to send live updates to every customer - right from the selection process until the installation of the products at their home.
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