iNDICA NEWS BUREAU-
A California-based, Indian-run home decor and furniture e-commerce platform Spacejoy has raised $4 million in a funding round, led by Accel.
TI Platform and TiE SoCal Angels, including angel investors, and real estates/prop-tech founders such as Larry Braitman, Venkat Tadanki, SquareFoot CEO Jonathan Wasserstrum, Jeroen Bertrams and Landis founders Cyril Berdugo and Tom Petit, also participated in the round, the company said.
“The new financing will allow Spacejoy to continue to capitalize on a fast-growing market, support the development of its core platform and strengthen AI technology for product discovery,” co-founder and CEO Arnab Saharoy told ET. “This new investment and partnership will allow us to scale the business and reach new customers in the US.”
Founded in 2019 by Saharoy and Vinay Indresh, Spacejoy has evolved into an e-commerce platform to help furnish homes. Using 3D tech and AI, Spacejoy personalizes the entire shopping experience by simplifying how users discover products and visualize them in a room.
“Spacejoy’s design-led platform enables users to identify products by the source of inspiration and find curated products that work well together both aesthetically and functionally,” Saharoy said.
In the traditional world, consumers either search and hire designers to execute their ideas, which may or may not be cost-effective, or go online or offline to buy these products. However, Arnab says tired of researching, trying to find the right fit, and being unable to visualize their dream décor, many consumers often end up compromising on their choice.
The LA-headquartered company allows its buyers to visualize their space with the products they want, and acts as a one-stop-shop to discover unlimited options for home brands.
“We married the best of both these worlds through the use of technology and design,” Arnab says.
On the Spacejoy platform, users can see thousands of pre-designed sets for each room, created by designers Spacejoy works with. They can select designs, and decide if they want to order the furniture and items used in different rooms.
“Everything is instant, and one need not wait for days to work with an interior designer,” Arnab claims.
A team of 30+ designers use different furniture and interior decor items to create the sets, mostly products from American retailers such as Wayfair, Pottery Barn, and Crate & Barrel. It has partnered with 35 retailers, who, in turn, are leveraging the growing popularity of online design-led commerce through these partners.
Arnab says Spacejoy’s offerings extend beyond pre-designed sets.
“As users can select different types of rooms, they have the ability to personalize the space according to their style, needs, and budget – in real-time,” he says.
“Spacejoy wants to disrupt this industry using its interactive technology that democratizes the home design process. It enables consumers to visualize their home in real-time and allows them to shop relevant furniture directly from such designs,” said Subrata Mitra, partner at Accel.
