Pepperfry (company)

Pepperfry is an online furniture and home decor marketplace based in India.[1] Founded by former eBay executives Ambareesh Murty and Ashish Shah in 2011, the company's headquarters is located in Mumbai, India and has presence in 28 cities in India including Bengaluru, Mysore, New Delhi, Chandigarh, Pune, Noida, Gurugram, and others.[2]

Pepperfry.com
Private
IndustryHome & Furniture
Omni-channel Retailing
FoundedJuly 2011 (2011-07)
Headquarters
Mumbai
,
India
Area served
India
Key people
  • Ambareesh Murthy (co-founder & CEO)
  • Ashish Shah (co-founder & COO)
  • Kashyap Vadapalli (CMO)
  • Sanjay Netrabile (CTO)
ProductsFurniture, home décor
ParentTrendsutra Platform Services Private Limited
Websitewww.pepperfry.com

In May 2019, Pepperfry was named among the 'top 10 start-ups' by Entrepreneur (magazine)[3]

History

Pepperfry began operations in Mumbai in July 2011.[4] The website Pepperfry.com was launched in January 2012.[5] Pepperfry operates as a subsidiary of Trendsutra Platform Services Private Limited, a company based in Mumbai, India.[1]

In 2014, the company launched its mobile site[6] and apps for iOS and Android.

In the same year, Pepperfry opened its first offline store called Studio Pepperfry in Mumbai in 2014[7], and by 2019 there were over 65 stores across 28 cities in India.[2]

The company has three warehouses in India. One of them, in Hoskote area in Bengaluru, is spread across 360,000 square feet[8][9][10]

In 2020, Pepperfry ventured into home interior partnering with Hettich, Bosch, Siemens, Kajaria, Gyproc, among others.[11]

Funding and partnership

Pepperfry has raised a total of $237.5 million over six rounds.[12]

In December 2011, as part of a Series A round of funding, the company received $5 million from Norwest Venture Partners India (NVP).[13][14]

In 2013, as part of a Series B round of funding, the company raised $8 million from NVP.[15]

In May 2015, as part of a Series C round of funding, Pepperfry raised $15 million from Bertelsmann India Investments and NVP.[16]

In July 2018, as part of a Series D round of funding, Pepperfry received $100 from early backers and Goldman Sachs and Zodius Technology Fund.[17][18]

Pepperfry raised $69 million in total in Series E round of funding from State Street Global Advisors and exiting investors.[19][20]

In February 2020, as part of a Series F round of funding, the company received $40 million from Pidilite Industries.[21]

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gollark: This is quite stressful.
gollark: Great, I can have a shower or whatever.
gollark: Wait, what if we do catching via 2-way trades or something?
gollark: Er, it's past the AR time now, so I'm ARing too, yes.

References
  1. Kotecha, Arushi (28 November 2017). "Pepperfry's recipe for success". Mint (newspaper).
  2. Dash, Sanchita (19 June 2019). "EXCLUSIVE: An online furniture retailer in India saw its sales double after it opened physical 'experience' stores". Business Insider.
  3. Singal, Aastha (8 May 2019). "10 Mumbai-based Startups That Made it Big". Entrepreneur (magazine).
  4. Menon, Bindu D. (24 November 2017). "Pepperfry sees sizzle in online furniture retail". Business Line.
  5. Chaudhary, Deepti (24 August 2018). "Pepperfry: Carving out a niche". Fortune India.
  6. Pani, Priyanka (13 March 2018). "Pepperfry launches mobile site". Business Line.
  7. Chakraborty, Sayan (24 February 2017). "Pepperfry to expand offline presence as online sales slow". Mint (newspaper).
  8. "Pepperfry launches built-to-suit home and furniture warehouse in Bangalore". The Economic Times. 30 September 2019.
  9. Baruah, Ayushman (21 September 2019). "Pepperfry eyes IPO in 15 months, opens warehouse in Bengaluru". Mint (newspaper).
  10. Modgil, Shweta (1 December 2017). "Pepperfry Decided To Build India's Largest Furniture Warehouse And Here's Why". Inc42 Media.
  11. "Pepperfry launches 'Pepperfry Bespoke', to take on Livspace, T-Hub's Hechpe, others". www.thenewsminute.com. 14 December 2018.
  12. Bhalla, Kritti (10 February 2020). "Pepperfry Bags Funding From Fevicol Maker Pidilite". Inc42.
  13. "YouTube: Pepperfry raises $5m from Norwest Venture Partners - Times of India". The Times of India. 13 December 2011.
  14. "Norwest Invests $5M In Former eBay India Head's E-com Start-up". VCCircle. 12 December 2011.
  15. Sanjai, P.R. (1 April 2013). "Pepperfry.com raises $8 million from NVP". Mint (newspaper).
  16. Shah, Sneha (14 January 2019). "Existing investors may pump another $100M in Pepperfry - ETtech". The Economic Times.
  17. Chakraborty, Sayan (27 July 2015). "Pepperfry gets $100 million investment from Goldman Sachs, others". Mint (newspaper).
  18. "Goldman leads $100m round in Pepperfry in first tech bet - Times of India". The Times of India. 28 July 2015.
  19. Chakraborty, Sayan (21 September 2016). "Pepperfry raises Rs210 crore in Series E funding". Mint (newspaper).
  20. Srinivasan, Supraja (7 March 2018). "Pepperfry raises Rs 250 crore from US-based State Street Global Advisors". The Economic Times.
  21. Shah, Sneha (10 February 2020). "Pidilite leads $40 million funding round in Pepperfry - ETtech". The Economic Times.
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