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● Relso is India’s largest cloud factory for furniture, seamlessly managing the entire process from design to delivery. Collaborating closely with clients, they ensure cutting-edge designs at the most competitive price
● Relso’s furniture category and manufacturing scalability sets them apart from other emerging startups in the B2B commerce space
● The funds will be utilized for Cross Border GTM, Team Expansion, and Working Capital Support
National, 19 March 2024: Relso, India’s largest furniture cloud factory has raised US$840K co-led by leading angel-investing platforms Ventures Catalysts and Inflection Point Ventures. The round also saw the participation of distinguished investors such as Ramakant Sharma (Livspace Founder & Global COO), Shantanu Deshpande (Bombay Shaving Co. Founder), Saurabh Jain (Livspace India CEO).
The Bengaluru-based startup plans to utilize the funding amount in charting out its global expansion strategy, talent acquisition, team and vertical expansion. Funds will be further used to support its growth and innovation objectives as a part of its vision to become a global player in the furniture manufacturing and export segment.
With a vision deeply rooted in ‘Make in India and Sell Globally,’ Relso was co-founded in early 2023 by IITians- Anshul Choubey, Abhinav Agarwal, and Jay Trivedi, who bring with them a set of diverse expertise and extensive experience in entrepreneurship, B2B sales, technology, and in-depth knowledge and insights over the challenges present across various industries.
On his investment rationale, Dr Apoorva Ranjan Sharma, MD & CEO of Venture Catalysts, said, “At Venture Catalysts, we are committed to identifying and nurturing India’s most promising startups with the potential to redefine industries and transcend borders. In just a year of operations, Relso has swiftly emerged as a game-changer in the furniture sector, harnessing the power of technology and ingenuity to redefine traditional paradigms and boasts of an impressive execution track record. Relso is poised to propel India to the forefront of the global furniture market, replacing the current leader, China. We are thrilled to partner with Relso on this transformative journey and look forward to supporting their growth and success.”
Mitesh Shah, Co-Founder, Inflection Point Ventures, says, “Traditional furniture manufacturing processes not only neglect sustainability standards but also entail significant resource consumption, lengthy lead time and limited design flexibility. By embracing cloud-based manufacturing solutions, Relso is revolutionizing the customer experience by prioritizing quality and sustainability throughout the design-to-delivery process, offering latest designs with flexibility to change & competitive pricing. IPV’s investment in Relso is a testament to its firm belief in the transformative power of innovation.”
On its first funding round, Anshul Choubey, Co-Founder and CEO of Relso, said, “Venture Catalysts and IPV along with other investors have focused on meticulously understanding our business, along with providing invaluable insights and fostering a deep understanding of our goals. With this fundraise, we aim to supercharge our export GTM strategies, bolster our tech platform, and expand our supply chains. This infusion of capital will propel Relso and India as the top choice for our clients’ export needs, furthering our mission and vision for the future.”
Relso’s disruptive approach to furniture manufacturing is underpinned by its relentless focus on addressing the specific needs of the mid-market segment. By offering bespoke design solutions, accommodating low MOQs, and ensuring reliability and scalability, Relso has emerged as the preferred choice for discerning customers, positioning itself as a formidable player in the burgeoning B2B commerce space.
The worldwide Furniture market is projected to generate a revenue of US$766.20bn in 2024, with [1] an anticipated annual growth rate of 5.02% from 2024 to 2028.