Home interiors startup Shadez raises over $200K in Pre-Series A round
MUMBAI : Home Interiors startup Shadez has raised more than $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 such as 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 with over 4 lakh sq. ft. Also, they have used about 10,000 litres of paint to bring delight and colour to customers’ homes.
“Home decor in India is a highly unorganized market and there is no standardization of such services. Shadez is attempting to solve this pain point for homeowners as they finish the painting job in a day," said Vinay Bansal, founder and chief executive officer, Inflection Point Ventures, and added that its 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 aims to deliver the re-painting job in a day’s time with their professional team and mechanized tools. They also offer easy EMI plans for their customers. They have been Awarded as the ‘Best Home Interior Paint Company of 2020’ by Mid-Day.
The startup 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 generally people face while handling painting projects. Aiming to make the painting projects convenient, Shadez envisions to deliver 10x of the current revenue in the next 12 months.
The market size of paint service industry in India stands at more than ₹1,00,000 crore, with 20% homes getting painted every year. The paint service market in India is highly unorganized, 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 & commercial projects 24x7 to accommodate all requests. They plan to start with false ceiling, exterior painting and project consulting as an addition to their offerings in the coming future.