Pepperfry.com, a furniture and home marketplace, has raised Rs 210 crore in a fresh round of funding from current investors Goldman Sachs, Bertelsmann India Investments (BII), Norwest Venture Partners (NVP) and Zodius Technology Fund.
These funds will be used to scale Pepperfry’s logistics and service network and to expand the Pepperfry Studios’ (Experience Centres) footprint, the company said in a statement. In the last five years, more than three million customers have made purchases from over 10,000 merchants on the Pepperfry platform.
Pepperfry owns and operates the largest customer facing Big Box Supply Chain through 17 fulfilment hubs and a delivery fleet of over 400 vehicles across over 500 cities. Last year, Pepperfry also extended its customer offerings to include Bespoke Interior Design Consulting and Project Management Services and has launched Pepperfry Studios in India’s six largest metros.
In the next few months the Pepperfry Studio coverage will be extended into Tier II and III towns, and in keeping with Pepperfry’s sharp focus on customer experience significant investments will be made behind Supply Chain Automation and the Big Box logistics network will expand to over 1,000 cities, the company said.
“Our mission is to help 20 million customers create beautiful homes by 2020. We are doing this through a differentiated, profitable business model,” Ambareesh Murty, founder & CEO of Pepperfry said.