Sunday Design raises Rs 12.5 crore in Pre-Series A funding
Global furniture and home décor brand Sunday Design has raised Rs 12.5 crore ($1.5 million) in Pre-Series A funding from QRG Investment and Holdings (the family office of Havells India Limited founders), Kama Group (family office of SRF Ltd), KCT Family Office as well as existing investors.
During the pandemic, there was a significant change in the attitude of people towards interior design as they wanted to invest more in their living spaces, Gautam Baid, founder and managing director, Sunday Design, said. “We have experienced this first-hand since our inception last year, in the form of steady growth in both interest and demand. With this new investment, we intend to ‘collaborate’ with top European designers and grow our footprint in an omnichannel format, introducing new product lines on a strategic basis,” he added.
The brand claims to have recorded a 10% month-on-month growth since its launch in October 2021. This has been backed by a positive response across their product spectrum. All the products are manufactured in India and designed internationally to make modern, design-conscious pieces for customers. “We believe in partnering with brands that are future-proof and show high potential for growth. The furniture and home décor industry is poised for significant growth in India. Sunday Design is addressing a white space in the industry. The mid-segment has been wholly underserved and by bringing together a global design aesthetic and pairing it with local manufacturing, Sunday is offering something that has already shown significant traction,” Anil Rai Gupta, chairman, QRG Investments and Holdings (Havells Family Office), stated.
Sunday Design plans to utilise this capital to expand both its online and offline presence. Backed by the success of its flagship Experience Centre on MG Road in Delhi, the company plans to open additional retail spaces within the coming year across Mumbai and Bangalore. They will also be launching an e-commerce store to expand the reach and scale of their market share across the country and in new segments.
Sunday Design also plans to expand its product range, including the launch of home fragrances, table linen, tableware, and soft furnishings. The brand aims to emerge as a complete premium home décor brand. “We aim to achieve 100% growth over the coming two fiscal years,” Baid stated.
The brand’s initial funding of $1.25 million came from its founding investors, including Baid and his business partner Vinit Agarwal, along with venture capitalists Sanjay Kapoor, Abhishek Goyal, Gurjeet Singh Bains, Apoorv Agarwal of Sirca Paints India, and Manan Khetan of I-Evo, a prominent high-end furniture manufacturer in India.
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