Online furniture and home design services marketplace HomeLane.com has acquired Doowup, a yet-to-be launched home décor visualisation platform, for an undisclosed amount.
As part of the transaction, Doowup's founding team would join Bangalore-based Homevista Decor and Furnishing Pvt Ltd, which owns and operates HomeLane.
Doowup founder Vivek Seetharaman will be HomeLane’s chief innovation officer.
The Economic Times, citing HomeLane CEO Srikanth Iyer, was the first to report the development. HomeLane executives did not respond to a request for more details.
"The (Doowup) team comes with great experience on photo real imaging, rendering and graphics, which we will leverage to give our user a better experience," Iyer told the publication.
With over 200 employees on its rolls, HomeLane presently has operations in Bangalore, Chennai, Hyderabad, Pune and Kochi.
HomeLane competes with other online furniture players such as FabFurnish, Pepperfry and UrbanLadder besides horizontal e-commerce majors such as Flipkart.com, Snapdeal.com and Amazon.in that also have a strong grip in this space.
Recently, Bangalore-based Livspace acquired YoFloor, a mobile platform that offers a virtual trial room facility for home designs.
According to market research firm TechNavio, the online home décor market in the country is expected to grow at a compounded annual growth rate of 50.42 per cent between 2014 and 2019.