India, April 7 -- India's furniture ecommerce market has moved from experimentation and execution to consolidation.

The IPO pipeline reflects this change. In the last four months, Wakefit went public with a Rs.1,288.89 Cr issue; Rentomojo filed its DRHP to raise Rs.150 Cr, and Duroflex's D2C furniture brand Sleepyhead is also close to a public listing.

Pepperfry's acquisition by TCC Concept for Rs.662 Cr marked a clear reset for a once high-growth player. And in contrast, Furlenco's $125 Mn fundraise shows that capital is still available for models that demonstrate efficiency and demand.

Large players are doubling down, too. IKEA has committed over $2 Bn to India, while Godrej Interio continues to expand its omnichannel presence and in...