Total amount raised
$305.3 Million
Latest funding date
9/1/2023
Location
Pepperfry has successfully raised funds through 11 rounds, attracting 16 investors, including notable names like Norwest and Panthera Growth Partners. The platform offers a wide selection of furniture and home merchandise, making it a prominent player in the online home and lifestyle shopping sector.
Keep reading to explore the intricacies of Pepperfry's fundraising journey and the investors backing this innovative platform.
What Is Pepperfry?
Pepperfry, based in Mumbai, Maharashtra, India, is a prominent player in the online furniture and home decor industry. The company offers a wide range of high-quality, stylish, and affordable furniture, catering to various home furnishing needs.
Founded by Ambareesh Murty and Ashish Shah, Pepperfry has grown significantly, employing between 501-1000 people. The company emphasizes customer satisfaction with on-time delivery, easy returns, and reliable customer support, operating both online and through physical stores across multiple cities in India.
How Much Funding Has Pepperfry Raised?
- Series B
- Amount Raised: USD 8,000,000
- Date: April 2013
- Lead Investors: Norwest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its product offerings and enhance its online platform.
- Series C
- Amount Raised: USD 15,000,000
- Date: May 2014
- Lead Investors: Bertelsmann
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve logistics.
- Series D
- Amount Raised: USD 100,000,000
- Date: July 2015
- Lead Investors: Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its physical store presence and enhance customer service.
- Series E
- Amount Raised: USD 31,000,000
- Date: September 2016
- Lead Investors: Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen its supply chain and technology infrastructure.
- Series E
- Amount Raised: INR 2,500,000,000 (approx. USD 33,000,000)
- Date: March 2018
- Lead Investors: State Street Global Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its market reach and enhance product offerings.
- Series F
- Amount Raised: USD 40,000,000
- Date: February 2020
- Lead Investors: Pidilite Industries Limited
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive growth and prepare for a potential IPO.
- Debt Financing
- Amount Raised: INR 350,000,000 (approx. USD 4,700,000)
- Date: February 2021
- Lead Investors: InnoVen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and expansion plans.
- Debt Financing
- Amount Raised: USD 40,000,000
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance its financial stability and support growth initiatives.
- Series Unknown
- Amount Raised: USD 23,000,000
- Date: September 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen its omnichannel presence and improve the supply chain.
- Series Unknown
- Amount Raised: INR 433,000,000 (approx. USD 5,800,000)
- Date: June 2025
- Lead Investors: General Electric Pension Trust
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive technological innovation and expand market reach.
Total Amount Raised: USD 340,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global venture capital and growth equity investment firm. They invest in early to late-stage companies across a wide range of sectors.
- Investment Focus Areas: Technology, healthcare, financial services, consumer sectors.
- Notable Investments: Uber, Spotify, BlueJeans.
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. They provide a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Technology, healthcare, financial services, real estate.
- Notable Investments: Facebook, Uber, Spotify.
- Bertelsmann India Investments
- Details: Bertelsmann India Investments is the strategic investment arm of Bertelsmann SE & Co. KGaA in India. They focus on early-stage and growth-stage investments.
- Investment Focus Areas: Digital, education, media, services sectors.
- Notable Investments: Saavn, Pepperfry, Lendingkart.
- General Electric Pension Trust
- Details: General Electric Pension Trust is the pension fund of General Electric. They invest in a variety of asset classes, including private equity.
- Investment Focus Areas: Diverse asset classes including private equity.
- Notable Investments: Various private equity investments.
- Pidilite Industries
- Details: Pidilite Industries is a leading manufacturer of adhesives, sealants, and construction chemicals in India. They are known for their flagship brand Fevicol.
- Investment Focus Areas: Adhesives, construction chemicals.
- Notable Investments: Fevicol.
What's Next for Pepperfry?
Pepperfry's future looks promising with significant opportunities to strengthen its omnichannel presence and enhance its supply chain capabilities. The recent $23 million funding will bolster its ability to meet the evolving needs of its over 10 million customers, positioning the company for substantial growth.
With a valuation upwards of $460 million, Pepperfry is eyeing a potential IPO to raise $250-300 million, which could further fuel its expansion plans. However, the company must navigate challenges such as increased operational costs and intense competition in the furniture retail market.
As Pepperfry continues to innovate and expand, it will need to manage its leadership transition smoothly and maintain financial stability to capitalize on future fundraising opportunities and market growth.
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