Online furniture shop UrbanLadder secures $1M from IndoUS Venture Partners
Online furniture shop UrbanLadder.com, run by Bangalore-based Descasa Decor Online Pvt Ltd, has raised $1 million from IndoUS Venture Partners. The company will use the first round of funding to strengthen the team, build customer service infrastructure and to invest in technology, according to a company statement.
Urban Ladder was founded by Ashish Goel and Rajiv Srivatsa in January 2012. It offers products across categories like tables and bar units, storage and shelves, seating, accessories (trays, mirrors, laundry basket etc) and some brand exclusives. In a couple of months, the portal will foray into new product segments like sofas, beds and specialty furniture like easy chairs and bunk beds.
The site offers cash on delivery for orders below Rs 5,000 and card on delivery for all orders, which, considering the Indian shopper psyche looks to be a good incentive. It sources furniture from manufacturers across the country and even internationally.
"We aim to deliver delight to the Indian consumer by setting global benchmarks for distinctive and deep product range, a memorable shopping experience online and forthright business practices," said its co-founder and CEO Goel.
"Home dÃ©cor is a large and under-served opportunity. This large market requires solutions that offer customers value and requires affordable products with a convenient buying experience. The team at Urban Ladder has a highly differentiated approach," said Vani Kola, MD, IndoUS Venture Partners.
Clearly, the target audience of this portal is high on money low on time urban couples or families which is evident from its name as well as its collection. It houses all 'sophisticated' products not overtly expensive, but not low-priced either.
Goel is a former COO of the popular Amar Chitra Katha Media. Co-founder and Chief Operating Officer Srivatsa was a senior product manager at Yahoo prior to starting Urban Ladder.
Urban Ladder competes with the most stable player for furniture, Pepperfry and stores like Naaptol, Jabong and Futurebazaar, among others.
(Edited by Prem Udayabhanu)