Spacewood Furnishers Secures Rs 300 Crore for Ambitious Expansion

Spacewood Furnishers Pvt Ltd, a prominent manufacturer of modular furniture, has successfully raised Rs 300 crore from the private equity firm A91 Partners, the company announced on Thursday.

The funds, raised at a valuation of approximately Rs 1,200 crore, will empower Spacewood to embark on its next expansion phase, focusing on brand enhancement and strengthening operational foundations. A91 Partners' investment grants them a significant minority stake in the company.

Founded in 1996, Spacewood anticipates reaching group revenues of about Rs 700 crore this fiscal year. The company, which operates over 1 million square feet of integrated manufacturing facilities, aims to grow to 100 stores across the nation while bolstering its omnichannel presence via platforms like Amazon and Pepperfry.