Pepperfry.com, a leading furniture and home marketplace, has raised Rs 210 crore in a fresh round of funding from current investors Goldman Sachs, Bertelsmann India Investments (BII), Norwest Venture Partners (NVP) and Zodius Technology Fund. Excluding this round of funding, the company has raised around $160 million till now in five rounds. The company said its valuation has doubled in the last one year.
"This is the largest investment raised by a vertical-focused, pure-play ecommerce company in India this year," said the company.
The funds will be used to scale Pepperfry's logistics and service network and to expand the Pepperfry Studios' (experience centres) footprint.
The company claims In the last five years, more than three million customers have made purchases from over 10,000 merchants on the Pepperfry platform, leading it to a position of dominance in the online furniture and home segment in India.
Last year, Pepperfry has also extended its customer offerings to include Bespoke Interior Design Consulting and Project Management Services and has launched Pepperfry Studios in India's six largest metros.
Pepperfry Studio plans to extend into Tier II and III towns , and in keeping with Pepperfry's sharp focus on customer experience significant investments will be made behind Supply Chain Automation and the Big Box logistics network will expand to 1000+ Cities.
Ambareesh Murty, Founder & CEO of Pepperfry said, "Our mission is to help 20 million customers' create beautiful homes by 2020. We are doing this through a differentiated, profitable business model and I thank our investors for believing in the team and for being great partners on this journey".
Ankur Sahu, Co-Head of Private Equity at Goldman Sachs in Asia said, "Over the past year and a half, Pepperfry has continued to successfully innovate, grow its business and deliver on the macro theme of domestic consumption growth in India. In partnership with the talented management team, our goal is to establish a differentiated and sustainable leader in India's rapidly growing ecommerce industry to stand the test of time."