Mumbai: Spacewood Furnishers, a modular furniture manufacturer, has secured ₹300 crore in fresh funding from private equity firm A91 Partners.
The deal values Spacewood Furnishers at approximately ₹1200 crore and marks a significant milestone in its growth journey.
A91 Partners Acquires Minority Stake in Spacewood Furnishers to Drive Expansion
A91 Partners’ investment gives the firm a significant minority stake in Spacewood Furnishers and will fuel the company’s next phase of expansion, brand development, and operational scaling.
Commenting on the investment, Kirit Joshi, Co-founder and Director of Spacewood Furnishers, said, “We are excited to have A91 Partners on board. Beyond capital, they bring extensive experience in scaling consumer brands, which will be invaluable for our next growth phase.”
Abhay Pandey, Partner at A91 Partners, added, “We look forward to partnering with Kirit, Vivek, and Nitin to build a leading company in India’s rapidly growing home and office improvement market.”
Founded in 1996, Spacewood Furnishers Continues Its Growth Story
Established by Kirit Joshi and Vivek Deshpande in 1996, Spacewood Furnishers has become a trusted name in India’s organised furniture sector. In 2011, Nitin Sudame joined as the founder of Spacewood Office Solutions (SOS), marking the company’s foray into the office furniture segment.
Known for its commitment to design innovation, durability, and craftsmanship, Spacewood Furnishers provides modular solutions across kitchens, wardrobes, home furniture, pre-hung doors, and office spaces under the SOS brand.
Also Read: India Deep Tech Alliance Announces Second Cohort and INR 7,500 Crore in Additional Funding
Financial Outlook and Expansion Plans
For FY26 (estimated), Spacewood Furnishers expects group revenues of around ₹700 crore and aims for 25–30% annual growth over the next five years with a focus on profitability. The funding will be directed toward technology upgrades, process automation, and talent acquisition.
Spacewood Furnishers operates one of India’s largest integrated furniture manufacturing facilities, spanning over 1 million sq. ft. and equipped with advanced panel and sheet metal processing technologies. The company currently runs more than 35 exclusive stores across 20+ cities and maintains a 500+ dealer network across 150 towns.
The company plans to expand to 100 stores nationwide in the coming years while strengthening its omnichannel presence through e-commerce platforms such as Amazon and Pepperfry.
Corporate and Developer Partnerships Strengthen B2B Presence
Through Spacewood Office Solutions, the company has delivered workplace solutions for over 1,000 corporates, including Accenture, Capgemini, HDFC, and the Adani Group. Additionally, its Sumai Doors division partners with over 200 developers, including Godrej Properties, DLF, Lodha, M3M, and Kolte Patil.
Also Read: Mimic Robotics Raises USD 16 Million, Funding Round Led by Elaia and Speedinvest
“Expansion into Tier 2 cities is part of our next strategic phase,” said Nitin Sudame, highlighting the company’s plans for wider market coverage.
A91 Partners’ Backing to Strengthen Leadership in Premium Furniture Segment
With this investment, Spacewood Furnishers aims to consolidate its leadership in the mass-premium and premium furniture categories, catering to design-conscious consumers seeking functional and aesthetic living solutions.
