Pepperfry, an Indian online furniture marketplace, said on Wednesday it had raised 2.1 billion rupees (Rs. 210 crores or $31.3 million) from existing investors including Goldman Sachs Group Inc in a new round of funding.
Bertelsmann India Investments, Norwest Venture Partners and Zodius Technology Fund are the other investors who contributed in the funding round, Pepperfry said in a statement. It had raised $100 million from these very investors earlier in 2015.
The company said it will use the funds to expand its logistics and services network to over 1,000 cities and open more ‘Pepperfry Studios’, or experience centres.
Pepperfry, an online store for furniture and home decor items, has raised more money than any of its competing brands. Urban Ladder Decor Solutions, the next most successful company in the category could raise nearly half that.
Feature Image Source: Twitter/@Pepperfry
(Inputs from PTI)