Bangalore-based online furniture store Urban Ladder has raised funding of US $12 million from its existing investors including Kalaari Capital, SAIF Partners, Sequoia Capital and Steadview Capital.
The online furniture seller will use the fresh funding for omnichannel expansion by opening offline stores in the country. It is aiming at 15-20 stores across India by March 2019. Urban Ladder currently has two offline stores in Bangalore.
Founded in 2012 by Ashish Goel and Rajiv Srivastava, Urban Ladder sells home decor products across various furniture categories like beds, sofas, coffee tables, side tables, dining tables and chairs, among others. It claims to have 2000 products across 35 categories on the platform. It delivers to 77 cities in India including Bangalore, Mumbai, Delhi/NCR, Chennai, Goa, Pune, Hyderabad, Cochin Ahmedabad, Chandigarh, Ludhiana, Surat, Kolkata Mangalore, Jaipur, Baroda, and Guwahati, among several others.
Urban Ladder’s previous funding
In January last year, it raised $15 million from Kalaari Capital, SAIF Partners, Steadview Capital and Sequoia Capital. Previously, it raised $3 million in the 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.