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Business Economy


Boingg raises Rs 2.2 Cr in a Seed round led by Inflection Point Ventures

Mumbai, Nov 17 (UNI) D2C furniture brand Boingg has raised INR 2.2 Cr in a Seed Round led by Inflection Point Ventures, one of India’s largest angel investment platforms. The funds raised will be utilised in increasing marketing and branding efforts, along with hiring key team members.
Boingg started the shipment and installation activities in December 2019. The focus of the products stays on strength, utility and safety of kids. The Company works on an inventory-less model so as to save on real estate, storage and maintenance costs.
Vinay Bansal, Founder & CEO, Inflection Point Ventures said ''The D2C segment in India is exploding and we believe that this growth momentum is a long term which will carve out D2C as a strong category and a challenger to legacy brands. The furniture market which caters to children doesn’t exist in an organised manner, even in the offline space. Boingg is leveraging the D2C wave and tapping into a market where there is a willingness to spend on quality products. Their performance matrix and future growth plans excited us to back the company.''
Boingg offers customisations in a real time, helping its clients fulfil the requirements of their kids with ease. With this, they also have products in all the categories related to setting up children’s rooms.
Neha Indoria, Co-Founder of Boingg, heads the Product Design, Branding & Marketing and B2B sales at Boingg said, “We aim to be the go-to brand for any parent looking to add fun & functional products in their kids’ room, while ensuring safety and providing the opportunity to customise in terms of size, colour and storage configuration.”
This exclusively crafted furniture range caters to the urban and semi-urban young couple with children aged from 0-8 years. These parents who are essentially the millennials wish for quirky, innovative and customised designs for their kids’ room, which otherwise comes at a high cost. Boingg works with a constantly-evolving extensive catalogue which is designed in-house to allow the customers a variety of options to choose from. Hence, the customisation requests are seamlessly executed. There are many organisations working in the furniture space but each one of them skips either of the mentioned 4 areas: affordability, retail presence, furnishing & accessories, large online presence. Boingg is placed in a way that it covers all these four important areas effectively.
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