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Urban Ladder, an online furniture company, today said it has raised USD 21 million (over Rs 120 crore) in Series B round of funding to further strengthen its presence.
It said this round is led by Steadview Capital, along with existing investors SAIF Partners and Kalaari Capital. The company had earlier raised USD 5 million led by SAIF Partners in November 2013 and USD 1 million from Kalaari Capital in August 2012, it said in a press release.
"We will continue to strengthen these aspects with focus on innovative technology, which will further elevate customer experience," Urban Ladder CEO & Co-founder Ashish Goel said.
Urban Ladder was launched in July 2012; it provides furniture solutions in seven cities in India.
The company offers over 1,000 products across 25 categories in furniture such as wardrobes, beds, sofas, dining tables, coffee table. It plans to further expand the product range and service 25-30 cities in India by March 2015.
Steadview Capital is an alternative asset management firm that makes concentrated long-term investments. It has invested in companies such as Page Industries, Jubliant Foodworks, Shriram City Union and Olacabs, the release said.