Bangalore-based online modular furnishing solutions provider, CapriCoast.com launched its unique marketplace platform by partnering with Spacewood and StyleSpa – leading manufacturers of modular furniture. In doing so, CapriCoast has become a pioneer of the online-to-offline (O2O) model. Earlier this year Capricoast.com raised $1.25 million in a seed round led by Accel Partners India.
This game-changing O2O model enables premium modular furnishing brands to take their extensive showroom network online, thus significantly increasing their visibility and customer reach. With this model, customers can now begin their modular furnishing purchasing journey online – exploring an extensive design catalog, customizing their design with free consultations – and then experience their design offline at these brand showrooms. The process of ordering and installing modular furnishing for new homeowners is often tedious and laden with sub-par quality products, obfuscated pricing and delayed delivery. CapriCoast’s O2O model provides a hassle-free, efficient solution to this major customer pain point. From the customer’s research and discovery phase and personalized service of home consultations and showroom visits, to on-site installation and handover, CapriCoast provides constant support every step of the way.
On becoming a marketplace with an O2O model, Jawad Ayaz, founder and CEO, CapriCoast, said, “CapriCoast, as India’s only marketplace for home solutions, aims to organize the highly-fragmented and unorganized modular furnishing market in India. Partnering with brands such as Spacewood and StyleSpa will enable us to provide customers with a wide spectrum of premium products and the best price in the industry.” Mr. Ayaz further added, “We’ve listened to the customers and are very excited to present this smart solution to them. Having solved what has always been a high-friction process, we have created a massive business opportunity for brands who partner with us.”
On partnering with CapriCoast, Kirit Joshi, Managing Director, Spacewood, said, “We see massive growth opportunity for us in Capricoast’s marketplace model. This platform will give us better customer accessibility and massively increase our showroom capacity utilization, with a direct impact on bottom-line. We are delighted to partner with CapriCoast.com in their endeavor.”
Earlier this year Capricoast.com raised $1.25 million in a seed round led by Accel Partners India and currently provides its services to 15 cities. With plans to go in for their next round of funding and bringing on board many more modular furnishing brands, CapriCoast aims to expand into 65 new cities in India by mid next year.