New Delhi, 20 January 2025: Pelican Essentials & Pelicanwork, an innovator in modular furniture is aiming to raise $1 million in series A funding riding on the significant milestone of $1 million in annual recurring revenue (ARR). Reflecting on their rapid growth in the Indian furniture market. The company has set its sights on reaching $5 million ARR within the next two years, driven by geographical and product expansion. This strategic fundraise will enable the company to scale its operations, innovate further, and solidify its position in the industry.
Pelican’s roadmap for growth is built on strategic execution and innovation. With a portfolio of premium, modular, easy-to-assemble products that ship in compact boxes, the company has addressed longstanding issues such as transportation, installation, and durability. Their patent-pending mechanisms and commitment to sustainability further distinguish them in a competitive market.
The company is already working on a new-age in-house 3D customization engine, a first-of-its-kind innovation in India. This technology will empower customers to customize products directly in the CMS to fit their unique needs. This creative strategy demonstrates the business’s dedication to improving customer engagement and experience.
Pushpender Hooda, Co-founder, Pelican Essentials and Pelicanwork expressed his enthusiasm, “Achieving $1 million in annual recurring revenue is a significant milestone for Pelican, reaffirming our vision of redefining the Indian furniture market with innovation and customer-centric solutions. With our Series A fundraise, we aim to accelerate product innovation, expand geographically, and enhance our 3D customization technology—setting new benchmarks for convenience, quality, and sustainability in the industry.”
Pelican Essentials and Pelicanwork are transforming the way Indians buy and experience furniture. By focusing on innovation, customer-centric solutions, and scalability, the company is poised to redefine the market and set new benchmarks for quality and convenience. This fundraiser marks a pivotal moment for Pelican. With a defined strategy and a strong vision, it is poised to determine the future of the Indian furniture market.