Boingg raises Rs 2 Cr in pre–Series A led by IPV
Boingg, a D2C kids-focused furniture brand, has raised Rs 2 crore in its pre–Series A round led by Inflection Point Ventures.
The funds will be used to expand machinery, licensing, and the branding of the company. The company has increased its physical footprint with the launch of a physical store in Gurgaon since the last fundraise.
Founded by Neha Indoria and Dhruvan Barar, Boingg offers customizations in real-time, helping parents design their kids’ rooms with furniture that is functional and completes the look. With this, they also have products in all the categories related to setting up children’s rooms.
The brand works on an inventory-less model so as to save on real estate, storage, and maintenance costs. Along with this, they also offer products in every category relevant to decorating kid-friendly spaces.
The startup claims to have a portfolio of over 2,500 SKUs, designed and manufactured in-house.
Early-stage angel investing firm Inflection Point Ventures (IPV) recently announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage start-ups. Its portfolio companies include Amikus AI, Suraasa, Fresh From Farm, Buyofuel, Automovill and Qube Health among others.
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