Urban Ladder raises ₹102 cr in Series E round

Priyanka Pani Mumbai | Updated on January 13, 2018

Urban ladder co-founders Ashish Goel and Rajiv Srivats

Bengaluru-based online furniture store has so far raised ₹609 crore

Online furniture store Urban Ladder has raised around ₹102 crore in a Series E round.

The fresh capital was raised from existing investors such as Kalaari Capital, SAIF Partners, Steadview and Sequoia Capital, along with new investors LTR Focus Fund and ABG Capital, as per its latest filing with the Registrar of Companies. Ratan Tata is also one of the early investors in the company.

With the fresh funding, the Bengaluru-based firm, founded in 2012 by IIM-Bangalore alumni Ashish Goel and Rajiv Srivatsa, has so far raised about ₹609 crore. The company also received a debt finance of $3 million from Trifecta Capital in August 2016.

With the latest funding, the company is now valued at ₹1,000 crore, according to documents accessed by BusinessLine on business research platform Tofler.

Urban Ladder, which sells premium furniture on its site and Amazon, competes with Goldman Sachs-backed Pepperfry (Trendsutra Platform Services Pvt Ltd) and Bessemer Venture Partners- and Jungle Ventures-backed Livspace (Home Interior Design E-commerce Pvt Ltd).

In an earlier interview to BusinessLine, Urban Ladder COO Rajiv Srivatsa had said the company is investing ₹30 crore to expand into the offline segment and set up brand-experience stores. It also wants to expand the number of in-house designs.

The strategy is to take on rival Pepperfry, which already has a big offline presence in major cities and airports.

Urban Ladder’s first brand-experience store spanning 3,500 sq ft, located within the company’s office, went live last October.

With its offline strategy, the company is looking at a 60 per cent year-on-year growth. According to data provided by Tofler, Urban Ladder’s total revenues increased three-folds to ₹56 crore in FY16 from about ₹19 crore in the year-ago period. Its losses also widened three times to ₹175 crore in FY16 from ₹58.5 crore a year earlier.

Published on February 17, 2017

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