This Mumbai-based home furnishing startup first launched in the US. It's now returning home
'We did not want to just launch one more website or catalogue," Manav Dhanda, co-founder and chief executive of the company, told Mint. 'The curtain-buying experience in India is broken, unorganised, fragmented, and lacking any end-to-end service. That's the problem we're solving."
While high-end names like D'Décor dominate the premium fabric space, most players stop at selling material. The actual customer journey, from fabric selection, stitching, measurement, to installation, remains fragmented and largely informal.
'Fabric is not equal to curtain," said Shailendra Singh, co-founder and COO. 'Most brands are fabric weavers, not consumer-facing businesses. Customers are left coordinating with third-party tailors, without design help or accountability. We're offering a full-stack service—AI-powered visualisation, designer support, doorstep sampling, stitching, and guaranteed installation."
Founded in 2020 by Manav Dhanda and Nimisha Dhanda, D'Moksha has served over 500,000 global customers, primarily in the US. In June 2025, former HUL and Nykaa executive Shailendra Singh joined as co-founder and COO, to lead its India launch and scale-up.
D'Moksha offers main, sheer, and blackout curtains, with a range of solids and textured weaves. Prices start at ₹500 per metre and go above ₹1,000 for exclusive global collections, enabled by its in-house production unit in Mumbai's Powai.
All production is handled in-house. The company uses natural and recycled fabrics like hemp and linen, and is GRS-certified. It sources only from ethically compliant suppliers.
Focus on local
The company is initially targeting 25 million urban households across 12 cities—Mumbai, Delhi, Bengaluru, Hyderabad, Chennai, Kolkata, Ahmedabad, Pune, Surat, Jaipur, Lucknow and Indore.
'This is not an online catalogue, it's a localised service," Singh said. 'Think of it like how quick commerce scaled. We'll expand city by city, with dark hubs and dedicated teams. We expect city-level profitability within 12 months."
Based on internal research, D'Moksha estimates the annual curtain market in these homes to be ₹8,000–10,000 crore, assuming an average purchase value of ₹70,000 per home every 8–10 years.
According to Allied Market Research, the sustainable home décor market was valued at $330 billion in 2021 and is estimated to reach $556.3 billion by 2031, growing at a CAGR of 5.5%.
The India curtain and blinds market size reached $735.71 million in 2024, as per IMARC. Looking forward, IMARC Group expects the market to reach $1.28billion by 2033, exhibiting a growth rate (CAGR) of 5.90% during 2025-2033.
It is fuelled by increasing disposable incomes, rapid urbanization, a growing middle class, and the expansion of e-commerce platforms.
Singh said most new homeowners today spend 20–30% of their property value on interiors, and curtains are among the top three ticket items after furniture and white goods. 'The irony is that rugs, fans, mattresses, even modular kitchens have brands. But curtains, which are essential in every room, remain unbranded and chaotic."
The company has so far raised ₹5–6 crore from a group of early backers, including the founders of boAt and Mamaearth, along with senior executives from Unilever and Castrol. It is now in talks to raise $1.5 million (~ ₹12 crore) at an undisclosed valuation to fund its India rollout.
'This round already includes the former Global Chief Customer Officer of Unilever and the current CEO of Castrol," Singh said.
Unlike typical D2C brands that rely on frequent reorders, D'Moksha is built for high AOV or average or der value. 'It's not about repeat, it's about value," said Singh. 'Our CAC (customer acquisition cost) may be higher, but our first-order LTV (lifetime value) is ₹70,000+. That's better than most FMCG brands get over years."
D'Moksha said it will focus on India and the US for the next three years. While there is strong inbound interest from Europe and West Asia, the company plans to tap those markets only after stabilising India operations.
'We're not chasing inflated valuations or vanity scale," Dhanda said. 'We're building a long-term, profitable, trust-driven brand in a category that's been ignored for too long."
As per IMARC report, a strong trend that is fuelling the expansion of the curtain and blinds market in India is the growing consumer demand for personalised and tasteful home furnishings. 'Homeowners are spending more on interior design to express their own tastes, which is making more people buy customised window coverings that appeal to individual tastes and home decor," it said.
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