Pepperfry raises $100M from Goldman Sachs, Zodius & others
Mumbai-based Pepperfry.com, an e-commerce marketplace for furniture, home decor and appliances, has secured $100 million in funding from Goldman Sachs Group Inc and Zodius Technology Fund.
The company's existing investors Norwest Venture Partners and Bertelsmann India Investments have also participated in this round of funding, according to its founder and CEO Ambareesh Murthy.
TrendSutra Platform Services Pvt Ltd, the company behind Pepperfry.com, will use the money to expand its logistics footprint in over 300 towns and for 'quadrupling' the size of its technology team, Murthy told Techcircle.in.
The company will also use the funds to add new 'experience centres' and for upping digital marketing spend.
Avendus Capital was the exclusive financial advisor to Pepperfry for this round of funding.
Started in January 2012 with categories like home, lifestyle, fashion and more, Pepperfry now specialises in furniture and home products on its managed marketplace platform. The company not only markets furniture and home decor products through its site, but also employs carpenters and operates a fleet of over 350 delivery vehicles.
Prior to the latest transaction, Pepperfry had bagged close to $30 million in funding.
It had previously raised money from Norwest Venture Partners and Bertelsmann.
Pepperfry mainly competes with SAIF Partners-backed Urban Ladder and Rocket Internet-backed FabFurnish.
Pepperfry is expected to have crossed Rs 500 crore in GMV this year.