Pepperfry Raises $8 Million From Norwest Venture Partners
Bangalore : Pepperfry, an online shopping store has raised $8 Million in the second round of funding. This round was led by Norwest Venture Partners (NVP), an existing investor of the company. The fund received from this round will be use to establish more centers around the country, especially in the metropolis Kolkatta, Bangalore and Chennai, reports Vivek Singh of Deal Curry.
The company had received an initial round of funding from NVP with $5 million in 2011.Founded in 2012; Ambareen Murthy heads the chair, who was a country manager earlier at EBay.
Trendsutra Platform Services owns the firm, which came into effect on January 2012.They crossed the 100 crore mark in years time. Starting with 10,000 products, the company has widened its horizon to a lakh items. The online portal offers various lifestyle products such as clothing, furniture, precious metals and accessories for routine life.
The company has outsourced logistics without any additional costs.Other online firms received their share of funding earlier this year. There were talks of merger between Pepperfry and Fashionandyou this year.
Snapdeal raised $50 Cr from existing investors BVP, Nexus Venture and IndoUS Venture Partners and EBay. On the other hand ShopClues.com and Ladyblush; both online portals raised $54 Cr and received angel funding respectively.

