Pepperfry is a Mumbai-based omnichannel furniture retailer that has successfully raised ₹43.3 crore (approximately $5.1 million). The funding round was led by existing investors and participation from prominent investment firms like Norwest Venture Partners, GE Pension Trust, Panthera Growth Partners, and a few more.
The capital raised will be utilized to strengthen the market position and expand the reach across India. In the past few months, Pepperfry has been growing its physical presence in states like West Bengal, Tamil Nadu, and more. The secured funds will give the necessary boost to the company’s operations, expanding its omnichannel presence and technology to improve customer experience.
The company was founded by Ambareesh Murty and Ashish Shah in 2011. Over the last decade, Pepperfry has become one of the leading players in the Indian furniture and home decor market.
Pepperfry has amplified its presence over the years in major cities like Gurugram, Mumbai, Kolkata, Hyderabad, Chennai, and New Delhi. With more than 50 physical stores across the country, offering a wide range of options to customers.
Pepperfry underwent a major leadership transformation in 2023, Ashish Shah became the CEO, and Madhusudan Bihani joined as CFO. The company has also managed to cut down losses to INR 117 cr, which is almost 37% less than the last fiscal year, amounting to around INR 187 cr.
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