Top News

Pepperfry.com raises $8 mn from Norwest Venture Partners

Ecommerce portal, India’s Pepperfry.com has raised an additional
$8 million in funding from Norwest Venture Partners (NVP). The firm had earlier
invested $5 million in the etailer in December 2011.The company stated that the
funds raised will used to strengthen Pepperfry’s leadership position in the
Furniture, Home and Living segment. The company will look to widen its merchant
reach, expand fulfillment operations and invest behind its brand presence
across media.

Ecommerce portal, India’s Pepperfry.com has raised an additional
$8 million in funding from Norwest Venture Partners (NVP). The firm had earlier
invested $5 million in the etailer in December 2011.The company stated that the
funds raised will used to strengthen Pepperfry’s leadership position in the
Furniture, Home and Living segment. The company will look to widen its merchant
reach, expand fulfillment operations and invest behind its brand presence
across media.

“In the next few
months you’ll see us further strengthening market leadership by investing in
unparalleled depth of selection and a consistently superior customer
experience,” said Ambareesh Murty, Founder and CEO of Pepperfry.com.

Commenting on the
investment, Niren Shah, Managing Director, Norwest Venture Partners India (NVP
India) said, “The Pepperfry team has built a highly differentiated, capital
efficient business catering to the discerning home products customer and we are
delighted to be partners on this exciting journey.”

Operating since January 2012, Pepperfry works on a
marketplace model and claims to sell an item every minute to customers. The
company has recently appointed EBay India’s Chief Marketing Officer, Kashyap
Vadapalli in the same profile.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close