Latest news with #Pepperfry
Entrepreneur
3 days ago
- Business
- Entrepreneur
Pepperfry Raises INR 43.3 Cr to Fuel Growth and Expansion
The fresh funding round was led by General Electric Pension Trust, alongside existing investors Norwest Venture Partners and Panthera Growth Partners. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Omnichannel furniture retailer Pepperfry has raised INR 43.3 crore (approximately USD 5.1 million) in a fresh funding round led by General Electric Pension Trust, alongside existing investors Norwest Venture Partners and Panthera Growth Partners. According to filings sourced from the Registrar of Companies (RoC), General Electric Pension Trust invested the largest sum of INR 21.5 crore, followed by INR 8.52 crore from Norwest Venture Partners and INR 6.45 crore from Panthera. The Pepperfry board approved the issuance of 5,59,463 compulsory convertible preference shares at INR 775 each, raising funds on a private placement basis. The company stated the funds will be deployed "for the growth, expansion and general corporate activities of the Company." Founded in January 2012 by Ambareesh Murty and Ashish Shah, Pepperfry has become one of India's most recognised names in the online and offline furniture space. Headquartered in Mumbai, the company operates as a marketplace offering a wide selection of furniture and home décor products—ranging from sofas and beds to lighting, appliances, carpets, and outdoor essentials. Pepperfry uses an omnichannel strategy, combining a robust e-commerce platform with over 200 Studio Pepperfry experience centers across 100+ cities. It also works on a franchise model and collaborates with major brands like Godrej, Springfit, and Spacewood, listing more than 10,000 products on its platform. Valued at INR 3,120 crore (USD 367 million) post-allotment, Pepperfry competes with key players like Urban Ladder, and WoodenStreet. The company generates revenue primarily through commissions on product sales. This latest funding round comes amid efforts to tighten financial controls. Despite a 30.6% drop in FY24 revenue to INR 188.98 crore, Pepperfry managed to cut losses by 37%, down to INR 117.4 crore from INR 187.6 crore in the previous year. In a leadership update, co-founder Ashish Shah was elevated to CEO in 2023, and Madhusudan Bihani was appointed CFO a year later. "We remain committed to redefining the furniture-buying experience in India," said Shah, "and this investment gives us the fuel to accelerate our mission."
Time of India
4 days ago
- Business
- Time of India
Furniture retailer Pepperfry raises Rs 43 crore from existing investors
Omnichannel furniture and home goods company Pepperfry has raised Rs 43.3 crore from existing investors Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners, among others. General Electric Pension Trust led the round with an investment of Rs 21.5 crore, followed by Norwest Venture Partners with Rs 8.5 crore and Panthera with Rs 6.4 crore. The remainder was contributed by other investors, according to the company's filings with the Registrar of Companies (RoC). The company issued around 5.6 lakh compulsorily convertible preference shares with a face value of Rs 775 each on a private placement basis. In its last funding round, the Mumbai-based company had raised $23 million in 2022 from the same group of investors. Prior to that, it had secured $45 million in debt funding in 2021. News website Entrackr first reported the latest development. Pepperfry had postponed its planned initial public offering (IPO) last year after engaging with bankers, as it was focusing on growth and profitability, cofounder Ashish Shah had told ET in an earlier interaction. The company, founded in 2012, had converted into a public entity in 2022 as part of its IPO preparations, which aimed to raise $250–300 million. In FY24, Pepperfry reported a 30.6 per cent year-on-year decline in operating revenue to Rs 188.9 crore. However, it narrowed its losses by 37.4 per cent to Rs 117.4 crore, from Rs 187.6 crore in the previous year. The company competes with ecommerce platforms such as Amazon India and Flipkart, as well as Reliance-owned Urban Ladder, and generates most of its revenue through commissions on product sales. Pepperfry has also been expanding its home décor segment and has onboarded multiple direct-to-consumer brands to strengthen its portfolio.
Time of India
4 days ago
- Business
- Time of India
Furniture retailer Pepperfry raises Rs 43 crore from existing investors
Omnichannel furniture and home goods company Pepperfry has raised Rs 43.3 crore from existing investors Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners, among others. General Electric Pension Trust led the round with an investment of Rs 21.5 crore, followed by Norwest Venture Partners with Rs 8.5 crore and Panthera with Rs 6.4 crore. The remainder was contributed by other investors, according to the company's filings with the Registrar of Companies (RoC). The company issued around 5.6 lakh compulsorily convertible preference shares with a face value of Rs 775 each on a private placement basis. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now In its last funding round, the Mumbai-based company had raised $23 million in 2022 from the same group of investors. Prior to that, it had secured $45 million in debt funding in 2021. News website Entrackr first reported the latest development. Live Events Pepperfry had postponed its planned initial public offering (IPO) last year after engaging with bankers, as it was focusing on growth and profitability, cofounder Ashish Shah had told ET in an earlier interaction. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The company, founded in 2012, had converted into a public entity in 2022 as part of its IPO preparations, which aimed to raise $250–300 million. In FY24, Pepperfry reported a 30.6% year-on-year decline in operating revenue to Rs 188.9 crore. However, it narrowed its losses by 37.4% to Rs 117.4 crore, from Rs 187.6 crore in the previous year. The company competes with ecommerce platforms such as Amazon India and Flipkart, as well as Reliance-owned Urban Ladder, and generates most of its revenue through commissions on product sales. Pepperfry has also been expanding its home décor segment and has onboarded multiple direct-to-consumer brands to strengthen its portfolio.
