Spacewood Raises ₹300 Crore from A91 Partners

By admin On Nov 5, 2025

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Mumbai, November 5, 2025: Modular furniture brand Spacewood Furnishers Pvt. Ltd. has raised ₹300 crore from A91 Partners, valuing the company at around ₹1,200 crore. The funding will help the company accelerate expansion, strengthen its brand, and enhance operations.

The investment gives A91 Partners a significant minority stake in the Nagpur-based company. Founded in 1996 by Kirit Joshi and Vivek Deshpande, Spacewood has emerged as one of India’s leading names in the organised furniture sector. Nitin Sudame, who joined in 2011, heads the office furniture vertical, Spacewood Office Solutions (SOS).

“We are excited to have A91 Partners on board. Their experience in scaling consumer brands will be invaluable as we enter our next phase of growth,” said Kirit Joshi, Co-founder and Director of Spacewood.

Abhay Pandey, Partner at A91 Partners, said the firm looked forward to partnering with Spacewood’s leadership team to build a “dominant company in the large and growing market of home and office improvement.”

For FY26, Spacewood expects group revenues of around ₹700 crore and aims to achieve 25–30% annual growth over the next five years. The company plans to invest in technology upgrades, process automation, and talent acquisition to boost efficiency and expand its retail footprint.

Spacewood operates one of India’s largest integrated furniture manufacturing units, spanning over 1 million sq. ft. Its product range includes modular kitchens, wardrobes, home furniture, pre-hung doors, and office furniture. Currently, the company has 35+ exclusive stores across 20+ cities and a dealer network of 500+ partners in 150 towns. It aims to scale up to 100 stores nationwide while strengthening its online presence through platforms such as Amazon and Pepperfry. Spacewood’s enterprise division caters to major corporates including Accenture, Capgemini, HDFC, and Adani Group, and collaborates with leading educational institutions. Its Sumai Doors division works with over 200 real estate developers, including Godrej Properties, DLF, Lodha, M3M, and Kolte Patil.

With this investment, Spacewood aims to consolidate its leadership in India’s mass-premium and premium furniture markets, catering to design-conscious consumers seeking modern and functional living solutions.