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Online Furniture Marketplace Pepperfry Secures Funding

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pepperfry

Online home décor marketplace, #Pepperfry has raised R642 Cr ($100 Mn) in Series D round of funding from Goldman Sachs, Zodius Technology Fund and existing investors Bertelsmann India Investments and Norwest Venture Partners.

The proceeds will be use to expand its logistics footprint in over 300 cities and will also open distribution centres and expand its carpenter and assembly service network.

Avendus Capital acted as the financial advisor to Pepperfry on this deal.

Founded in 2011 by by Ambareesh Murty and Ashish Shah, Pepperfry (operated by TrendSutra Platform Services) operates as a marketplace for furniture and home décor products across categories like kitchen & dining, bath & body, laundry & housekeeping and pet supplies.

The company has a fleet of 350 delivery vehicles and has over 80,000 items listed on its portal. It works with 1,000 merchants across 1,000 cities in India and claims to have customers spread across 12 countries, including the US, Russia, Greece and France, according to the company website.

Previously, it had raised about $30Mn in funding from Norwest Venture Partners and Bertelsmann and competes with players like Urban Ladder and FabFurnish operating in similar space.

 

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Nasbeer Ahammed
Founder, Investor, Entrepreneur & Mentor of Expibotz Technologies Pvt Ltd, Startup ShowCase, Neukoz Technologies, Magik Media, Make My Experience, Swan Logistics, etc...
http://www.nasbeer.com
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