Home Interior Service startup HomeLane has raised INR 15 Cr from Stride Ventures. This is an exclusive report from Techpluto. According to MCA filings, HomeLane has issued 1,500 NCDs or non-convertible debentures at 14.25% interest rate to Stride Ventures for raising 15 Cr debt. Stride Ventures has issued the NCDs under its Stride Ventures Debt Fund 1. It must be noted that Stride Ventures had announced the launch of Stride Ventures India Fund II only few weeks back.
Home Lane had last raised 60 crore in a bridge round that saw the mix of debt as well as equity funding in August, 2020. In this bridge round, Stride ventures contributed INR 20 crore while the remaining 40 crore funding was pumped by other existing investors including Accel, Sequoia Capital, Evolvence India and JSW Ventures.
The MCA filings also show that the Bengaluru-based company has launched HomeVista ESOP Scheme 2021. However, the company hasn’t shed much light on this ESOP scheme in its MCA filings.
Additionally, the company has filed its valuation report with the ROC. In the valuation report, the company estimates its enterprise valuation to be around INR 837.91 crore while putting the equity valuation around INR 901 crore.
According to reports, HomeLane had posted Rs 230.4 Crore (unaudited) operating revenue for the year ended March 2021.
HomeLane directly competes with startups like Livspace and Flipspaces. Livespace had raised whopping $90 Mn in series D round led by Kharis Capital in September 2020.
Last year, HomeLane’s business was apparently hit Covid lockdown as it was forced to laid down 100-150 employees to conserve capital.