Bangalore-based online furniture store Urban Ladder has raised $15 million in a round of funding from existing investors including Kalaari Capital, SAIF Partners, Steadview Capital and Sequoia Capital, reports the Mint. The report cites the registrar of companies for the data, although Urban Ladder declined to comment.
Note that Urban Ladder previously raised $3 million from in form of venture debt financing from Trifecta Capital in August last year. Other than this, in April 2015, the company had secured an undisclosed amount of funding from Cambrian Ventures founding partners Anand Rajaraman and Venky Harinarayan, after having raised $50 million in a series C round of funding in the same month. Ratan Tata had also invested an undisclosed amount in Urban Ladder in his personal capacity, back in 2014.
Interestingly, Urban Ladder recently also tied up with Tata Housing to showcase its product solutions across three projects in Mumbai, Bangalore and Gurgaon. The company will provide special pricing to Tata Housing customers and will focus on customers purchasing homes between Rs 68 lakh – 3.5 crore.
Currently, Urban Ladder offers home decor products across various furniture categories like beds, sofas, coffee tables, side tables, dining tables and chairs, among others. It currently delivers to over 19 cities: Bangalore, Mumbai, Delhi/NCR, Chennai, Goa, Pune, Hyderabad, Cochin Ahmedabad, Chandigarh, Surat, Kolkata Mangalore, Jaipur, Baroda etc. As of now, the platform claims to offer over 5000 products across 35 categories. The company had also started testing an interior designing service named ‘Urban Interiors’ for customers to furnish their homes through assistance from independent designers.