Total amount raised
$27 Millions
Latest funding date
Location
Chumbak has successfully raised funding through multiple rounds, with the latest being a Series D round. The company has attracted investment from notable backers, including SeedFund.in and Matrix Partners India.
Keep reading to explore the intricacies of Chumbak's fundraising journey and the investors backing this innovative brand.
What Is Chumbak?
Chumbak, founded in Bangalore, India, in 2009, is a company that specializes in modern Indian design. The company was established by Subhra Chadda and Vivek Prabhakar.
Chumbak offers a diverse range of products, including home decor items, furniture, bags, travel accessories, watches, and gifts. Their unique designs have made them a popular choice for those looking to add a touch of contemporary Indian aesthetics to their lives.
With a team of 101-250 employees, Chumbak continues to innovate and expand its product offerings, catering to a growing customer base both in India and internationally.
How Much Funding Has Chumbak Raised?
- Series D
- Amount Raised: ₹700M
- Date: May 2019
- Lead Investors: Gaja Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To open more stores and expand Chumbak’s presence in metros and Tier II cities.
- Venture Round
- Amount Raised: ₹850M
- Date: November 2017
- Lead Investors: Gaja Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To diversify into newer categories of personal care and expand its offline footprint by opening 20-25 stores every year.
- Debt Financing
- Amount Raised: ₹80M
- Date: May 2017
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Debt Financing
- Amount Raised: ₹30M
- Date: November 2016
- Lead Investors: Narayan Ramachandran
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage cash flow and expand product lines.
- Series A
- Amount Raised: Not publicly disclosed
- Date: May 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market presence.
- Seed Round
- Amount Raised: $2M
- Date: February 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the brand and establish initial market presence.
Total Amount Raised: $2M + ₹1660M
Current Valuation: Not publicly disclosed
Key Investors
- Gaja Capital
- Details: Gaja Capital is a private equity firm that focuses on mid-market companies in India. They manage assets of about $500 million across three funds.
- Investment Focus Areas: Education, financial services, consumer products
- Notable Investments: EuroKids, Kangaroo Kids, SportzVillage
- Matrix Partners
- Details: Matrix Partners is a venture capital firm that invests in early-stage companies. They have a strong presence in the consumer technology and enterprise technology sectors.
- Investment Focus Areas: Consumer technology, enterprise technology, financial services
- Notable Investments: Ola, Practo, Quikr
- SeedFund
- Details: SeedFund is an early-stage venture capital fund. They focus on helping startups grow by providing initial funding and strategic support.
- Investment Focus Areas: Technology, consumer products, healthcare
- Notable Investments: RedBus, CarWale, Voonik
- BlackSoil
- Details: BlackSoil is an alternative credit platform that provides structured debt solutions. They focus on high-growth companies needing flexible financing options.
- Investment Focus Areas: Structured debt solutions, high-growth companies
- Notable Investments: Not publicly disclosed
- Narayan Ramachandran
- Details: Narayan Ramachandran is an individual investor known for his strategic investments in various sectors. He has a background in finance and investment management.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Chumbak?
Chumbak's future looks promising with significant opportunities on the horizon. The company plans to double its store count by the end of the financial year, expanding its presence in metro and Tier II cities. This expansion, coupled with diversification into new categories like beauty and personal care, positions Chumbak to capture a larger market share and drive revenue growth.
Given these growth plans, Chumbak may seek additional funding to support its ambitious goals. Existing investors like Gaja Capital, Matrix Partners, and Seedfund are likely to continue their support, and new investors may also be attracted by the company's potential. However, Chumbak will need to navigate challenges such as managing rapid expansion, maintaining brand consistency, and competing with other lifestyle brands.
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