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Investments

4

Portfolio Exits

1

About Ananda Kallugadde

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Latest Ananda Kallugadde News

Home Decor and Furnishings Startup MyGubbi Secures $2.5 Million From Firoze Irani, others

Jul 29, 2020

Bengaluru-based home decor and furnishings startup MyGubbi has secured $2.5 Mn Pre-Series A funding in a round led by the family office of Firoze Irani. The round also saw participation from existing investors, including Bigbasket co-founder Vipul Parekh, NeoBytes founder Ananda Kallugadde, and InfosysBSE President Rajesh K Murthy. Commenting on the development, MyGubbi co-founder Umesh Sangurmath said: ADVERTISEMENT The funds raised will primarily be used to strengthen operations in our current cities i.e. In the immediate future we intend to expand to Hyderabad, as well. Our core focus would be to enhance customer delight through our distinctive experience centre MyGubbi was ideated by two friends and former executives of IT companies, Ravi Rao (former executive of Infosys) and Umesh Sangurmath (former executive of Wipro). They founded the startup in 2015, along with Aiyappa A.S and Sunil Rao. Commenting on the company, Sagarmath, said:  MyGubbi is envisioned as an ecommerce platform that offers interior and furnishing solutions to buyers. It provides end-to-end home decor solutions from designing to execution, along with the providing customise furnishing for each home buyer. Adding to that, MyGubbi co-founder Ravi Anand Rao, said: Since its inception, MyGubbi has concentrated on modular furniture, but given that décor & furnishing also play an integral role in setting up the home, we intend to further strengthen our presence in these categories. The startup previously raised $2.5 Mn Seed funding in March 2016 from Vipul Parekh, co-founder of Big Basket, Ananda Kallugadde, co-Founder of NeoBytes and Rajesh K Murthy, EVP of Infosys. At the time, it was reported that the company would use the capital to secure a sizeable share of the country’s fast-evolving home interiors market. With the help of a team of in-house designers, the home decor and furnishings company offer a range of customised designs and 3D renders that can be accessed by customers. Buyers can decide on the décor and furnishing either on their own or with assistance from the MyGubbi Experts. The company boasts strong local ecosystems of vendors and service providers. MyGubbi currently uses automated tools to streamline their process right from the inception of the project until the delivery of the same. This helps reduce their lead time, which otherwise has been a major concern in this industry. Till date, MyGubbi has furnished more than 600 homes. As per reports, the newly-raised funding will be spent on accelerating the startup’s growth and expansion. Share this:

Ananda Kallugadde Investments

4 Investments

Ananda Kallugadde has made 4 investments. Their latest investment was in myGubbi as part of their Angel - II on October 10, 2017.

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Ananda Kallugadde Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/9/2017

Angel - II

myGubbi

$2.7M

No

8

3/7/2016

Angel

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$99M

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10

2/5/2016

Seed VC - II

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$99M

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10

10/19/2015

Angel - II

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10

Date

10/9/2017

3/7/2016

2/5/2016

10/19/2015

Round

Angel - II

Angel

Seed VC - II

Angel - II

Company

myGubbi

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$2.7M

$99M

$99M

New?

No

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Subscribe to see more

Subscribe to see more

Co-Investors

Sources

8

10

10

10

Ananda Kallugadde Portfolio Exits

1 Portfolio Exit

Ananda Kallugadde has 1 portfolio exit. Their latest portfolio exit was Primaseller on March 03, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/3/2021

Acquired

$99M

3

Date

3/3/2021

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

3

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