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Leading online furniture store Urban Ladder has raised $5 million (Rs 30 crore) from SAIF Partners and Kalaari Capital in series A. The company had earlier raised $1 million from Kalaari Capital in August 2012.
Urban Ladder, set up in July 2012, offers services in Bangalore, Delhi, Mumbai, Chennai and Pune and plans to further expand its categories and reach to more Indian cities. The company offers close to 25 categories in furniture such as beds, sofas, dining tables, coffee tables, and has over 500 products.
Urban Ladder’s founder Ashish Goel said: “In just over a year, we have established ourselves as the leading online furniture destination in India. We are on track to achieve our goal to be the largest furniture store, online or off-line, in India within the next 18-20 months. This round of funding will further help strengthen our customer service experience, technology platform and expand our reach and product range.”
SAIF Partners is a leading venture capital and private equity firm that has invested in companies such as makemytrip.com, justdial.com and firstcry.com.
“Furniture in India is a huge market with potential to create a large online business. In this category, Urban Ladder has been able to differentiate itself by offering unique and innovative designs and excellent customer experience. We believe that the company has the promise of break-out growth. We are excited to partner with Ashish and Rajiv in this journey,” said Deepak Gaur, Managing Director, SAIF Partners.
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