Home interiors startup Shadez on Wednesday announced that it raised over $200,000 in pre-Series A round led by Inflection Point Ventures (IPV).
The funds raised will be used for entering cities such as Bangalore, 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 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,” said Adarsh Anand, founder, and chief executive officer, Shadez.
The startup is operating across Mumbai, Pune & Vadodara and has painted 200+ homes in Mumbai to date with over 4 lac square feet. Also, they have used approx. 10 thousand liters of paint to bring delight and color to customers’ homes.
“Our research showed that painting is a painful process for the entire family as it takes weeks to get a home painted while the family and kids are displaced. It would be a joy for the family and a significant disruption for the industry if house painting can be completed in 1 day. Between morning and evening. This will also lead to families getting re-painting done more frequently than the current frequency of 5 years. 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. 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 5 years, but painting is a recurring house maintenance service,” shared Vinay Bansal, founder, and chief executive officer, Inflection Point Ventures.
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 delivering tenfold of the current revenue in the next 12 months.
“Painting industry is largely unorganized and the entire process right from planning to pricing to execution is a painful process and time-consuming as well. Their turnaround time of a day (for a repainting job), transparency in pricing and professional team creates a great experience for the Customers which was validated in our discussions with their customers, during the due diligence process. The founders of Shadez are committed to their vision and we support their vision of transforming this sector,” added Jignesh Kenia, lead investor, Inflection Point Ventures.
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.
The market size of the paint service industry in India stands at INR 1,00,000 crore with 20 per cent of 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 an inclination towards night shifts. Considering such varying requirements, Shadez undertakes both residential and commercial projects 24×7 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.Internet Explorer Channel Network