Furniture and home goods firm Pepperfry appointed co-founder Ashish Shah as its chief executive, following the demise of previous chief executive Ambareesh Murty.

He had co-founded Pepperfry with Murty in 2012. Shah was the chief operating officer at Pepperfry prior to this, heading operations, category management, product and the omnichannel business.

“Pepperfry remains focused on its mission to provide a wide array of well-designed products to help customers create inspiring and functional living spaces,” he said.

“Pepperfry has always been committed to enhancing the way people create homes, and I am honoured to lead this incredible team of dedicated individuals who share this passion. The best tribute to Ambareesh will be to build on the foundation laid by us and fortify Pepperfry’s position as India’s leading furniture and home products company.” he added.

The untimely demise of Murty while on a tour in Leh had sent shockwaves in the industry.

The company has also raised $23 million from existing shareholders, including institutional investors and family offices.

Also read: Start-up funding winter to pass in 6-12 months: Redseer report

“Over the past three months the company’s co-founders have secured $23 million in funding from existing shareholders, including institutional investors and family offices, underscoring their confidence in the company’s vision and strategic plans for future,” Pepperfry said in a statement.

Pepperfry raised its last round of funding in November 2021, when General Electric, Mukesh Sharma Family Trust and others infused $10 million, according to data from Tracxn. It was valued at about $460 million at the time.

Related Topics
comment COMMENT NOW