[Funding alert] Home interiors startup Shadez raises over $200K in pre-Series A round led by Inflection Point Ventures
Home interiors startup Shadez has raised over $200,000 in pre-Series A round led by Inflection Point Ventures, an angel investment platform.
The funds raised will be used for entering metros like Bengaluru, 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, and Vadodara, and has painted 200+ homes in Mumbai till date.
Vinay Bansal, Founder and CEO, Inflection Point Ventures, said, “Home decor in India is a highly unorganised market and there is no standardisation 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 five years, but painting is a recurring house maintenance service.”
Shadez said it aims to deliver the re-painting job in a day’s time with its professional team and mechanised tools. The startup also offers easy EMI plans for its customers.
The startup said it 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 people generally 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.
Adarsh Anand, Founder and CEO, Shadez, added,
“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 all the support extended in getting us off the ground.”
According to the startup, the market size of the paint service industry in India stands at Rs 1,00,000+ crore with 20 percent homes getting painted every year.
The paint service market in India is highly unorganised, 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 and commercial projects 24x7 to accommodate all requests. It plans to start with false ceiling, exterior painting, and project consulting as an addition to their offerings in the coming future.
Edited by Megha Reddy