Delhi-NCR headquartered new-age home furniture and home décor brand Cinnamon Homes has raised an undisclosed amount of angel funding from multiple angel investors in its maiden fundraising round.
The funding round was jointly led by Rahul Dash, Co-Founder of Purplle (an unicorn start-up in beauty space) and Chetan Jajoria, Vice President at Deutsche Bank.
The funds raised through this angel round will be utilized by Cinnamon Homes towards bolstering its marketing and product development efforts as well as for driving immediate business growth and expansion in the Delhi-NCR region.
Speaking on the fundraise, Anand Suman, Founder & CEO, Cinnamon Homes said, “We at Cinnamon Homes are delighted to announce our first round of investment and support from various reputable angels. As an experience-led subtle premium brand with superlative aesthetic designs at the core of our product offerings, this fundraising shall go a long way to help us in realizing our business objectives to the fullest. It will also help us in moving closer towards our short-term goal of strengthening our presence in NCR over the short term, as well as our long-term goal of expanding our brand’s experience centres to all major metros in India along with consolidating our online presence through our website.”
Investor Rahul Dash, Co-Founder and COO, Purplle adds, “Cinnamon Homes as a brand has great potential, as now is right on time when the customers are getting increasingly conscious about how gorgeous their homes would look. I foresee Cinnamon homes satisfying these aspirations very well in the months and years to come. And so, I am glad to associate with the brand to support and help them scale nationally.”
Investor Chetan Jajoria, VP, Deutsche Bank says, “I have personally known Cinnamon Homes’ founder Anand for over one-and-a-half decades now. I am simply in awe of what he has created with Cinnamon and how the customers are loving the brand’s collections. And it’s a delight and pleasure for me to support this brand as one of its early investors.”
Since its inception in August this year, Cinnamon Homes has been constantly building its offerings that are extremely appealing along with a novelty factor in it. They aspire to be a one-stop solution wherein customers can come to set up their entire house. And to that end, Cinnamon shall be, going forward, continuing to invest a lot into designing its collections keeping the entire home in mind, and also doing customization to suit its clients’/customers’ requirements whenever necessary.