You are using an older browser version. Please use a supported version for the best MSN experience.

Pepperfry raises $15 mn from Bertelsmann, Norwest Venture

LiveMint logoLiveMint 27-05-2014 Malvika Joshi

Mumbai: Pepperfry.com, an online furniture and home products marketplace, has raised $15 million (around `90 crore) from Bertelsmann India Investments and Norwest Venture Partners in its second round of fund-raising.

Launched in January 2012, Pepperfry has about 1,000 merchants offering more than 50,000 products in segments like home decor, kitchen and dining.

“We are very impressed with the strong business foundations on which Pepperfry.com has been built and the leadership position it has attained, especially in the furniture segment,” Bertelsmann India managing director Pankaj Makkar said. “Our thesis is that vertically focused companies like Pepperfry which have built specialized capabilities and a differentiated market offering will serve consumers’ needs for selection and overall experience better.”

Bertelsmann India is the local investment arm of Germany’s media and services company Bertelsmann SE and Co. KGaA. Bertelsmann has a business presence in book and magazine publishing, television and printing.

“We are well positioned to become a household name in the country and partnering with a global powerhouse like Bertelsmann along with the continued support of NVP will ensure Pepperfry becomes India’s most preferred furniture and home products destination,” said Ambareesh Murty, founder and chief executive officer of Pepperfry.com.

Pepperfry competes with online marketplace firms such as Amazon, Urban Ladder and FabFurnish.

More From LiveMint

image beaconimage beaconimage beacon