Mumbai based online furniture and home products marketplace Pepperfry.com has raised $15 million of funding led by Bertelsmann India Investments (BII) and its existing investor Norwest Venture Partners (NVP).
Bertelsmann India Investments (BII), the strategic investment arm of the international media company Bertelsmann in India, BII concentrates on early stage investments into growing companies in the digital media landscape. NVP on other hand is Silicon Valley-based investment firm and the very first series-A funding of Pepperfry in 2011 was $5 million from Norwest Venture Partners only.
Pepperfry.com was founded in July 2011 by twi ex-eBay employees Ambareesh Murty and Ashish Shah. Pepperfry had earlier raised $13 million from NVP in previous rounds of funding.
Ambareesh Murty, co-founder & CEO of Pepperfry.com said, "Our vision is to be India’s one stop shop for Furniture and Home products and we have focused on leveraging our in-depth category expertise to establish the merchandising and supply chain infrastructure required to fulfill this vision."
Pepperfry started its business operations in January 2012 to sell furniture and home merchandize online and today the company offer more than 45,000 products to across various categories such as - Furniture, Home Décor, Furnishings, Kitchen and Pet Supplies.
Pepperfry was the recipient of the '2012 Red Herring Asia Top 100' award which honours the most promising private technology ventures from Asia.
The Pepperfry investment came just a day after when Flipkart raised $210 million of funding from DST global. Funding for the e-commerce companies in India are pouring in from across the globe however vertical e-commerce portals like Pepperfry.com also catching up the funding pace with mainstream players.
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