Urban Ladder raises $15 mn from Kalaari, SAIF and others
Bangalore-based Urban Ladder Home DÃ©cor Solutions Pvt. Ltd, which runs online furniture store Urban Ladder, has raised close to Rs 102 crore (around $15 million) in a fresh round of funding from existing investors.
The investors who participated in the round are Kalaari Capital, SAIF Partners, Steadview Capital and Sequoia Capital, Mint reported quoting filings with the Registrar of Companies (RoC).
In the fresh round, Kalaari put in Rs 30.64 crore while SAIF invested Rs 30.46 crore, Steadview Rs 27.16 crore and Sequoia Rs 13.58 crore, the newspaper reported.
An Urban Ladder spokesperson said in an email response, "We don't have any comments to share on this development."
In August last year, Urban Ladder raised venture debt worth $3 million (Rs 20 crore then) from Trifecta Capital.
In September last year, Urban Ladder moved away from a standalone model by joining hands with e-commerce firm Amazon India to boost sales.
The online furniture segment in India has seen a lot of action in recent years with Urban Ladder and rivals such as Pepperfry raising a substantial amount in funding from private investors.
In September last year, Pepperfry raised Rs 210 crore ($31.3 million then) from existing investors, including Goldman Sachs Group Inc.
Another furniture e-tailer FabFurnish, which was incubated by Rocket Internet AG, was acquired by Kishore Biyani-led brick-and-mortar retailer Future Group in April.
In April 2016, home-grown ecommerce major Flipkart said it is aiming to become the largest online furniture store in the country.