Wooden Street secures 34 million euros in Series C funding from Premji Invest

Mumbai: Wooden Street, a leading furniture and home décor brand, has raised 34 million euro (approximately Rs 354 crore) in its Series C funding round led by Premji Invest.

Founded in 2015, Wooden Street operates over 100 experience centres under a company-owned, company-operated model. The company boasts a vertically integrated supply chain, in-house manufacturing, and exclusive experience stores, enabling it to offer competitively priced products.

The brand operates across both online and offline channels, with 102 experience centres, more than 20 warehouses, and a 1.5 million-square-foot manufacturing facility.

“This funding reflects the trust our customers and investors have placed in us,” said Lokendra Ranawat, co-founder and Chief Executive of Wooden Street.

Dinesh Pratap Singh, another co-founder, stated that the funds would be utilised to drive aggressive business expansion by scaling up their retail footprint in both large and smaller cities. “We plan to open new stores and enhance our omni-channel presence. Additionally, we will expand our manufacturing capabilities, diversify the product portfolio, and strengthen our supply chain,” he added.

The company has previously raised 35 million dollar in funding from leading investors.

Premji Invest, known for successful investments in high-growth ventures with strong long-term prospects across various sectors, expressed confidence in Wooden Street’s growth trajectory. “Beyond funding, we will provide strategic insights to help scale Wooden Street’s operations,” said Kaveesh Chawla, a partner at Premji Invest.