MyGubbi Raises $2.5 Million In Fresh Funding
MyGubbi, the Bengaluru-based home decor and designing startup that “offers interior design solutions and home merchandise across various categories that are perfect to style modern homes”, has raised a $2.7 million in new pre-Series A funding..
The round was led by the family office of Firoze Irani, a Gujarati film personality and participated by existing investors including Bigbasket’s Vipul Parekh, NeoBytes founder Ananda Kallugadde and Infosys President Rajesh K Murthy.
- Founded in 2015 by Sangurmath and Ravi Rao along with Aiyappa A.S and Sunil Rao, MyGubbi provides interior design and home decor solutions across categories including kitchen, wardrobe and storage.
- The company claims that all its orders are delivered and completed within 45 days and it offers a five-year warranty. It has partnerships with a host of brands for sourcing including Hettich, Hafele and Century Ply.
- According to several reports, MyGubbi previously raised $2.5 million in seed investment from a host of angel investors in March 2016.
- MyGubbi currently operates in Bengaluru, Mangalore, Chennai and Pune and claims to have served more than 600 homes to date.
With the fresh investment, the company plans to double down its growth push. In a statement, MyGubbi co-founder Umesh Sangurmath said, “We would look at going deeper into existing markets, as well as strengthen our backend. We are also setting up a centre of excellence in design in Bengaluru, which is where these funds would be deployed.”