A well known name in the field of online furniture sales, Made.com has reportedly raised an astounding $3.73 million from investors, with which it aims to create an online service, that would bridge the gap between buyers and manufacturers. This all new proposed service is aimed at eliminating the need for middlemen and thereby lowering the costs of designer furniture. The investment procurement round included the Brent Hoberman, who is co-founder of Lastminute.com and mydeco.com along with Michael Birch of PROfounders Capital and also John Hunt and Marc Simoncini of Jaïna Capital.

One of the primary reasons for the new service proposed by Made.com owner, Ning Li is to create an environment where in, the prices of furniture that are sold online can be reduced and thus enable the users to get their choice of furniture at an affordable price. The U.K. homewares market is estimated to be about $38.8 billion and some of the top names in this industry, such as Argos and John Lewis are said to be responsible for about 10 percent of the total revenues.

As per the proposal, Made.com will make an effort to filter out the wholesalers and retailers entirely from the equation, when it comes to the furniture market and is also hoping to reduce the prices of the furniture by almost half. Even though the quality of the chairs and the sofas would remain the same, yet with the reduction in the middlemen, it would be a lot easier for the buyers to get their furniture directly from the manufacturers.

Via TechCrunch, Profounders Capital & Mydeco