Nagpur-based Spacewood Furnishers Pvt. Ltd., one of India’s leading modular furniture manufacturers, has raised ₹300 crore from A91 Partners, valuing the company at around ₹1,200 crore. The investment marks a major milestone in Spacewood’s journey as it looks to accelerate growth and strengthen its brand in the home and office furniture segments.
The deal gives A91 Partners a significant minority stake in Spacewood. The funding will be used to drive the company’s next phase of expansion, boost retail presence, and invest in technology, process automation, and talent acquisition.
“We are excited to have A91 Partners on board. Beyond capital, they bring deep experience in scaling consumer brands, which will be invaluable as we embark on our next growth phase,” said Kirit Joshi, Co-founder and Director of Spacewood.
Echoing his view, Abhay Pandey, Partner at A91 Partners, said, “We look forward to partnering with Kirit, Vivek, and Nitin in building a dominant company in the large and growing home and office improvement market.”
Founded in 1996 by Kirit Joshi and Vivek Deshpande, Spacewood has become a trusted name in India’s organised furniture market. The company entered the office furniture space in 2011 with Nitin Sudame spearheading the Spacewood Office Solutions (SOS) division.
With a strong focus on design innovation and craftsmanship, Spacewood expects to clock ₹700 crore in group revenues in FY26 and aims to grow 25–30% annually over the next five years while maintaining profitability.
Spacewood operates a 1 million sq. ft. integrated manufacturing facility equipped with state-of-the-art panel and sheet metal processing technologies. Its product range spans modular kitchens, wardrobes, home furniture, pre-hung doors, and office furniture under the SOS brand.
Currently, the brand has 35+ exclusive stores across 20+ cities and a dealer network of over 500 partners in 150 towns. The company plans to scale up to 100 exclusive stores and expand its omnichannel presence through platforms like Amazon and Pepperfry.
In the B2B segment, Spacewood Office Solutions has delivered workplace furniture for 1,000+ corporates, including Accenture, Capgemini, HDFC, and the Adani Group, while its Sumai Doors division supplies to over 200 developers, including Godrej Properties, DLF, Lodha, and Kolte Patil.
“We plan to expand to Tier-2 cities in the coming years,” said Nitin Sudame, Director at Spacewood Office Solutions.
With A91 Partners’ backing, Spacewood aims to consolidate its position in the mass-premium and premium furniture segments, catering to design-conscious consumers seeking modern and functional living solutions.
