wordpress blog stats
Connect with us

Hi, what are you looking for?

PepperFry raises $100M from Goldman Sachs, Zodius Technology Fund and others

furniture

PepperFry, the online furniture marketplace, has raised $100 million in funding led by Goldman Sachs, with participation from Zodius Technology Fund and existing investors Bertelsmann India Investments and Norwest Venture Partners, reports WSJ. The company will use the funds to expand its logistics in over 300 towns, adding to its technology team and delivery fleet, new distribution and assembly centres and digital marketing. PepperFry was aided by Avendus Capital as its financial advisor for the funding.

In May last year, the company had raised $15 million from Bertelsmann India Investments, the Indian investment arm of the German media conglomerate Bertelsmann and Norwest Venture Partners. It had also raised $8 million from Norwest Venture Partners in April 2013, and a $5 million round from the same company in December 2011, which was incidentally before the site was launched.

In August last year, Pepperfry announced a partnership with Hindware Home Retail, which operates under the brand name Evok, and then had 19 retail outlets in major cities in India. Pepperfry would showcase the entire line of furniture from Evok.

PepperFry was founded by Ashish Shah and Ambareesh Murty in July 2011. It claims to have over 80,000 items in furniture, home decor and kitchen and dining among others. It also claims to have over 1,000 merchant partners, with delivery across 250 cities and towns. The WSJ report states that the company has a fleet of over 350 delivery vehicles.

Competition:

Advertisement. Scroll to continue reading.

– In April, Bangalore-based online furniture store Urban Ladder secured an undisclosed amount of funding from Cambrian Ventures founding partners Anand Rajaraman and Venky Harinarayan. In the same month, it raised $50 million in a series C round of funding led by Sequoia Capital with participation from TR Capital and existing investors Steadview Capital, Kalaari Capital and SAIF Partners.

– Bangalore-based online marketplace for fixed furniture HomeLane, raised $4.5 million in funding from Sequoia Capital with participation in individual capacity from Manipal Education and Medical Group’s Ranjan Pai and Manipal Global Education’s Mohandas Pai in February this year.

– Online home furnishing portal Bedbathmore.com had also received an undisclosed amount in Series A funding from Blume Ventures in May 2013 while Zansaar which had raised $6 million from Accel Partners and Tiger Global in Feb 2012.

– German startup incubator Rocket Internet, which operates FabFurnish in India, had closed a $500 million investment from existing investors in July 2013. Post investment, it was looking to launch e-commerce companies in the fashion, general merchandise and furniture sectors in countries like India, Europe, Africa and others.

– Besides this, e-commerce ventures like Amazon India, Snapdeal, HomeShop18, Jabong and Infibeam also offer furniture products.

Image Credit: Flickr user Helena

Advertisement. Scroll to continue reading.

Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ