The companies selling furniture online have been witness to several ups and downs over the past couple of years. The major two players in this field: Pepperfry and UrbanLadder had vouched that they will be able to change the way furniture would be bought in India. While UrbanLadder has reduced its production, Pepperfry, on the other hand, has been able to raise $40 Million in February. It is led by Pidilite Industries.
Regulatory findings show that this venture based in Mumbai has allotted around 14,780,200 Series A shares to Madhumala Ventures and around 739,000 Series B shares to the Vedantam Family Trust.
Evaluations highlight that the valuation of Pepperfry from Pidilite of around $462 Million in the Series F round. This is a drastic jump for Pepperfry as in 2019 it was valued at $300 Million.
Pepperfry was founded in the year 2011 by Ambareesh Murty and Ashish Shah and has categories in home and lifestyle. This company performs on both online and offline markets and has an approximate of 700 stores in 25 cities across the country.
In the ending of the financial year in March 20199, Pepperfry showed a jump of revenue increment by 47 per cent to Rs 206.8 crore.