Home Interiors startup Shadez raises over $200K in Pre-Series A round led by Inflection Point Ventures, one of India’s largest angel investment platforms. The funds raised will be used for entering metros like Bangalore, Chennai, Delhi and Ahmedabad by the end of this Financial Year. The funds also will be invested in technology, machinery, manpower, marketing, and product development.
The startup is operating across Mumbai, Pune & Vadodara and has painted 200+ homes in Mumbai till date with over 4 lac sqft. Also, they have used approx. 10 thousand litres of paint to bring delight and colour to customers’ homes.
Vinay Bansal, Founder & CEO, Inflection Point Ventures says, “Our research showed that painting is a painful process for the entire family as it takes weeks to get a home painted while the family and kids are displaced. It would be a joy for the family and a siginifact distruption for the industry if house painting can be completed in 1 day. Between morning and evening. This will also lead to families getting re-painting done more frequently than current frequency of 5 years. Home decor in India is a highly unorganized market and there is no standardization of such services. Shadez is attempting to solve this pain point for homeowners as they finish the painting job in a day. Their application of technology to cut down the total service time and deliver the project in a day is a potential game changer in a large residential market in India because we may do the complete interiors once in 5 years, but painting is a recurring house maintenance service.”
Shadez aims to deliver the re-painting job in a day’s time with their professional team and mechanized tools. They also offer easy EMI plans for their customers. They have been Awarded as the ‘Best Home Interior Paint Company of 2020’ by Mid-Day.
The startup works with a smart painting process and the latest automatic tools along with professional painters to make the entire process faster than any other conventional process of painting. These factors help them in eliminating the hassle which generally people face while handling the painting projects. Aiming to make the painting projects convenient, Shadez envisions to deliver 10x of the current revenue in the next 12 months.
Jignesh Kenia, Lead Investor, Inflection Point Ventures shares, “Painting industry is largely unorganized and the entire process right from planning to pricing to execution is a painful process and time-consuming as well. Their turnround time of a day (for a repainting job), transparency in pricing and professional team creates a great experience for the Customers which was validated in our discussions with their customers, during the due diligence process. The Founders of Shadez are committed to their vision and we support their vision of transforming this sector.”
Adarsh Anand, Founder & CEO, Shadez, says, “The driving philosophy for us right from day one has been – Never let a customer go away unhappy. A customer talking about their experience with you is worth much more than you talking about yourself. We would really like to thank IPV for believing in us and for the all the support extended in getting us off the ground”
The market size of paint service industry in India stands at INR 1,00,000+ Cr with 20% homes getting painted every year. The paint service market in India is highly unorganized, while demands for painting vary significantly. Residential spaces prefer daytime and commercial spaces show inclination towards night shifts. Considering such varying requirements, Shadez undertakes both residential & commercial projects 24×7 to accommodate all requests. They plan to start with false ceiling, exterior painting and project consulting as an addition to their offerings in the coming future.