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June - 2014 - issue > Venture Beat

Online Retailer Pepperfry.com Raises Rs.95 crore in Series C Funding

SI Team
Friday, June 6, 2014
SI Team
Pepperfry.com, an online home products retailer, has raised Rs.95 crore in series C funding from Bertelsmann India Investments (BII) with the participation of existing investor Norwest Venture Partners (NVP). NVP have invested a total of Rs.67 crore in the previous two rounds of funding in Pepperfry. With this round, Pepperfry plans to leverage their in-depth category expertise and establish their merchandising and supply chain infrastructure, so that they can fulfill their vision to become India's one-stop-shop for customers seeking to spice up their home with their furniture and home products.

Since the Mumbai headquartered Pepperfry is keen on expanding the overall reach of the brand, they aim to increase the number of offline stores, which are intended to be brand building platforms rather than just sales points. They are geared up to launch offline stores in metros like Bangalore, Mumbai and Delhi-NCR. They will have large format kiosks with touch screens and iPads to allow consumers to browse and experience their merchandise according to Ambareesh Murty, Founder & CEO of Pepperfry.com.

Pankaj Makkar, MD of BII is confident that vertically focused companies like Pepperfry which have built specialized capabilities and a differentiated market offering will serve consumers' needs for selection and overall experience better. NVP India’s MD Niren Shah feels that Pepperfry.com has a strong team with extensive e-Commerce and marketplace expertise combined with great execution abilities. He also believes that in the last two years, the team has revolutionized customers’ access to affordable high quality furniture and home products by connecting buyers in metro and tier II cities to small businesses and manufacturers located in India's remote furniture hubs

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