Nagpur-based modular furniture company Spacewood Furnishers has raised ₹300 crore in a fresh funding round from A91 Partners, valuing the company at ₹1,200 crore. The investment gives A91 Partners a minority stake and supports Spacewood’s plans to expand its retail footprint and strengthen operations.
The company will use the new capital to enhance brand visibility, modernize manufacturing, and scale its omnichannel presence across offline stores and online platforms such as Amazon and Pepperfry. Spacewood aims to reach 100 stores nationwide in the coming years while focusing on technology upgrades, automation, and sustainable production practices.
Founded in 1996 by Kirit Joshi and Vivek Deshpande, Spacewood started as a modular furniture manufacturer in Nagpur and gradually expanded into kitchens, wardrobes, home furniture, and office solutions. In 2011, Nitin Sudame joined as a key founder of Spacewood Office Solutions, marking the company’s entry into the corporate furniture segment.
Today, Spacewood operates 35 exclusive stores across 20 cities and has a dealer network of over 500 partners in 150 towns. Its B2B division, Spacewood Office Solutions, has completed over 1,000 workspace projects for major corporations including Accenture, Capgemini, HDFC, and Adani Group. Additionally, its Sumai Doors division supplies to more than 200 developers, such as DLF, Lodha, M3M, and Godrej Properties.
Looking ahead, the company is targeting annual revenue growth of 25–30% over the next five years and aims to reach ₹700 crore in group revenue by FY26.
