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Capricoast.com Launches India’s First Home Automation Solutions Marketplace

With Series A funding from Accel Partners India and RB Investments, Singapore, Capricoast.com, is India’s first and only online marketplace targeting the $10B new home solutions market.

Photo Credit : https://www.capricoast.com/,

capricoast.com

Capricoast.com, India’s first and only online marketplace for home solutions with a hybrid Online-to-Offline (O2O) model launches home automation as its second business vertical.

Launched in 2015, CapriCoast initially focused on serving the rupees 30,000 crore fitted furniture vertical - the most essential pre move-in purchase for new homes. With a healthy 40 to 50 percent month-on-month growth rate, this business segment has over a 1000 customer base across all six Indian metros (Bangalore, Mumbai, Pune, NCR, Chennai and Hyderabad).

CapriCoast is now entering the home automation market with a deep understanding of new home buyers’ needs. Equipped with a team of solution experts, CapriCoast can deliver complete solutions with specialized on-site installation and configuration. Home automation is a nascent category offering a greenfield opportunity with exploding demand in the face of an almost non-existent B2C supply. Pegged at rupees 8,000 crore, the home automation solutions market in India is witnessing a 50 percent growth year-on-year.

Jawad Ayaz, founder and CEO, CapriCoast.com said, “Consistent with our overall business vision, the home automation vertical will be a curated marketplace of carefully selected partners that can deliver innovative, cost-effective and practical solutions that meet real market needs.” He further added, “We are extremely excited to launch our home automation vertical with Silvan Innovation Labs, Silvan is a technology pioneer in the Home Automation space and has been delivering market-leading products and solutions that are tuned to the Indian market needs.”

The CapriCoast-Silvan partnership will focus on selling directly to consumers, providing ‘Retrofit’ solutions that can be deployed into both existing and move-in ready new homes as well as ‘Designed-in’ solutions for under-construction homes.

“Home automation is not just a product, it is an experience. Making an experience available online calls for a lot of expertise in selling and delivering experiential solutions, CapriCoast understands that really well and we are happy to partner with them to offer our solutions online”, said Avinash Gautam, CEO, Silvan Automation.



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