Pepperfry raises Rs 250cr in fresh funding

By : |March 8, 2018 0

Furniture marketplace Pepperfry has raised Rs 250 crore in fresh capital from US-based financial services firm State Street Global Advisors(SSGA). SSGA joins Pepperfry’s existing investors including Norwest Venture Partners, Goldman Sachs, Bertelsmann India Investments and Zodius Capital.

Anandh Hari, managing director for private equity at SSGA said, “India’s large furniture and décor market is ripe for disruption and we believe that Pepperfry’s unique strategy, proven execution capabilities and passionate team are the perfect ingredients for success.” The news first reported by Economic Times also stated that as a part of the deal, Hari will join the company’s board of directors.

Ambareesh Murty, Founder and CEO of Pepperfry said, “We have been fortunate to have partners who believe in our business, are aligned with our strategy and value our execution capabilities. I welcome a marquee investor like State Street Global Advisors to Pepperfry and look forward to their partnership in this new phase of our journey.”


Pepperfry will use the capital towards expanding its offline presence in tier 2 towns and beyond as also invest in the development of augmented reality and virtual reality technology while increasingly growing the share of its private brand product portfolio.

Pepperfry, founded in 2011 by ex-eBay executives Ambareesh Murty and Ashish Shah is an online furniture marketplace which has its own fleet of 400 trucks and operates 18 warehouses which enable the company to deliver furniture in over 500 cities.

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