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May - 2013 - issue > Venture Beat

Pepperfry.com Nabs '43 Crores from NVP in Series B Funding

SI Team
Tuesday, April 30, 2013
SI Team
Pepperfry.com, an online lifestyle store run by Mumbai-based Trendsutra Platform Services, has raised Rs.43 crores from Norwest Venture Partners (NVP) in its second round of funding. This makes the total funding Rs.70 crores from NVP. “We received Series A funding from Norwest Venture Partners before the official launch in January 2012, as they found our business model, leadership team and idea very differentiated from others,” says Ambareesh Murty, Founder and CEO, Pepperfry.com.

The proceeds will be utilized to expand the base of their merchant partners. The company will channelize its resources to develop strong ties and deepen relationships with them. Currently, the company has close to a thousand merchant partners that include SMEs and brands. It has three fulfillment centers in New Delhi, Jodhpur and Mumbai and plans to set up fulfillment centers in Bangalore, Chennai and Kolkata.

Driven rapidly by millennial generation in India the company estimated Rs.108,540 crores in home, furnishings, and decor industry. Pepperfry has a team of 150 employees. “Our marketing efforts will be an optimum mix of offline and online, wherein we would be targeting people passionate about home,” assures Murthy.

The company has served customers from nearly 1000 Indian cities. Globally, customers from 12 countries like Switzerland, U.S., France and Canada have bought home products from the company. Currently the company focuses on serving the millennial generation and declares to be a one-stop shop for customers seeking to spice up their home.

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