Transteel, one of India’s leading D2C brands for office furniture targeted at SMEs and middle-market companies, has received growth capital of INR 4 Crore from marquee investors including India’s leading revenue-based financing player, Klub.
Transteel offers purposeful, premium office furniture built for start-ups, small & medium size business owners. Transteel Launched its D2C vertical in May 2020 as its pivot in response to Covid and makes furnishing office spaces easy and affordable for start-ups and small and medium businesses owners. With pan India delivery, the company has shown remarkable growth during the pandemic. Their approach of engaging directly with the consumers and the SME / MSME vertical has helped them achieve remarkable numbers of 40,000 online orders since May 2020.
Speaking about the funding round, Mr. Shiraz Ibrahim, Managing Director, Transteel said, “It gives us great confidence that our investors are in line with our vision of promoting the Consumer / MSME / SME verticals of Transteel. This funding will definitely help us in developing our business and will boost our mission of providing affordable furniture directly to the end consumer that is delivered and installed in as little as a week, with a “buy now, work now” approach to suit the fast-paced nature of start-up and small business culture”
Transparent pricing and automatically applied volume discounts are few among the other benefits that Transteel offers to its customers to easily purchase furniture online and let Transteel take care of delivery, assembly, and after-sales support. The company further aims to utilize the amount in improving customer service, logistics, manufacturing, and customer acquisition.
“We are seeing an evolution of omnichannel brands as digital is getting embraced further by the ecosystem. What sets Transteel apart from other players, is their specialisation in manufacturing office and home furniture offering a delightful mix of design, value for money, and most importantly ergonomics. Their digital-first approach to make furniture solutions accessible to a large set of customers disrupts the traditional retail model.” says Anurakt Jain, Co-founder & CEO, Klub.
“Companies have two bad options when purchasing office furniture,” said Transteel’s Co-Founder and Managing Director Shiraz Ibrahim. “They can purchase office furniture through traditional furniture dealers, which is expensive, slow, and confusing, or they can purchase inexpensive ‘fast furniture from online marketplaces which though convenient in the short term isn’t built to last in an office environment and offers very little in terms of after-sales customer support and understanding individual customer needs”.
Transteel is in an advance stage of closing on a Rs 45 crore Series A round in the funding to further scale its business and & will use the financing to accelerate product development and national reach.
Transteel Seating Technologies (Transteel) is India’s #1 choice for quality furniture designed and made in India. Founded in 1995 in the City of Bengaluru (then Bangalore) by Shiraz Ibrahim, Transteel has witnessed phenomenal growth in the office furniture space. Transteel started as an office furniture manufacturer and seller and has grown to become one of India’s leading direct-to-
consumer furniture brands, selling both home and office furniture. The company continues to be family-run and maintains the standards of service, integrity, and dedication established since its foundation. Transteel boasts of serving over 40,000 orders since April 2020 and achieving a turnover of over INR 30 crore through online sales within a year of the launch of its e-commerce platform. The company is proud to employ over 150 associates across its 2.5-acre production plant, experience centres and service, and logistics hubs. Transteel is currently delivering office furniture across India.
Klub is India’s leading revenue based financing platform providing flexible growth capital to digital-first companies and SMEs. Klub provides funding for recurring marketing, inventory, and capex spends to a wide variety of digital-first companies and SMEs across e-commerce, D2C, ed-tech, SaaS and broader digital commerce spectrum. Revenue based financing takes a revenue share as returns instead of equity dilution, fixed EMIs, and personal guarantees, making it ideal for a post-Covid financing ecosystem. Klub has raised two rounds of capital from 9Unicorns, Surge (Sequoia Capital India’s accelerator fund), Alter Global, GMO VenturePartners, EMVC Fintech Fund and marquee global angels.
Categories: Venture Capital