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Pepperfry.com, India’s largest furniture e-marketplace, has raised $100 million in a fresh round (Series D) of funding led by Goldman Sachs and Zodius Technology Fund. Existing investors Bertelsmann India Investments (BII) and Silicon Valley based Norwest Venture Partners (NVP) also participated in the round.
Pepperfry will use the funds to expand its footprint in Tier III and Tier IV cities by adding to its growing fleet of delivery vehicles. It will also open new distribution centres and expand its carpenter and assembly service network.
Over the next year, Pepperfry will quadruple its technology and engineering team with a focus on leveraging augmented reality on mobile to further enrich the buying experience. Additionally, Pepperfry will continue to partner and advise consumers through its team of interior designers at the three Pepperfry Experience Centres, which will be ramped up to 20 over the next 12 months.
“This is the largest quantum of investment raised by a sector focused e-commerce player in India. It will see us through till December 2016, when we will break even and start making profits. We are on track to achieving ₹1,000 crore sales by March 2016,” Ashish Shah, founder and COO, Pepperfry.com, told BusinessLine .
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