South Korea’s Ohouse Lands $128M To Add Ar To Home Improvement App
05/09/22, 12:11 AM
Money raised
$128 million
Industry
real estate
other
data and analytics
software
During the worst days of the pandemic, when people were stuck at home and starving for some form of entertainment beyond streaming yet another TV series, many turned to DIY home improvement projects. With the home now a place for work, school and leisure all at once, the DIY home improvement market has grown so significantly that globally, it’s expected to reach $514.9 billion by 2028-end, up from $333.7 billion in 2021.
Company Info
Additional Info
The funding comes just a few months after Bucketplace acquired Singapore-based online furniture platform HipVan, and Lee said that the company will continue to seek acquisition opportunities and strategic partnerships both in Korea and overseas markets. Now the startup aims to offer a variety of services that encompass almost everything involved in the residential space, ranging from home improvement, home repairs and maintenance to furniture delivery, moving services and even a laundry pickup service, Lee told TechCrunch. The startup appears to be growing rapidly, with 10 million users visiting the platform each month across the app and website, the company says. “Eight years ago, OHouse was simply a community of people sharing interior design content,” Lee said.