Urban Ladder, a leading online furniture company , has raised Rs 120 crore ($21 million) in a Series-B round of funding to strengthen its presence. This round was led by Hong Kong-based Steadview Capital and included existing investors SAIF Partners and Kalaari Capital.
The company had raised $5 million in Series-A funding in November 2013, led by SAIF Partners and $1 million from Kalaari Capital in August 2012. Urban Ladder was launched in July 2012 with the aim to build a million beautiful Indian homes. It provides furniture solutions in seven leading cities in India.
''Furniture is a highly fragmented and unorganised space, and we believe Urban Ladder is well positioned to leverage technology to become the leading furniture company in India. Their focus on customer experience and innovative product offerings stand out and we think very highly of the founders and the team they have built around them," said Ravi Mehta, managing director, Steadview Capital.
Urban Ladder was launched by Ashish Goel (chief executive officer) and Rajiv Srivatsa (chief operating officer) in July 2012, to provide shoppers with a wide range of contemporary designs of high quality, handcrafted furniture like wardrobes, beds, sofas, dining tables and coffee table. It plans to expand the product range and service to 25-30 cities in India by March 2015.
Boomerang raises $8.5 million
Boomerang Commerce, a company that provides dynamic price optimisation for online retailers announced it had closed $8.5 million (approx Rs 51 crore) in Series-A financing from Trinity Ventures and Madrona Venture Group. The Boomerang Commerce Dynamic Price Optimizer already prices millions of products for retailers like Staples and RadioShack.
Reviews42 raises $5 million
Online consumer products research platform Reviews42 has raised $5 million in Series-B funding from Tiger Global Management and Nirvana Venture Advisors. The funds will be used to further develop products and improve infrastructure. It has also rebranded itself as Zopper.