Company type | Public |
---|---|
Industry |
|
Founded | July 2011 |
Headquarters | , |
Area served | India |
Key people |
|
Products | Furniture, home décor |
Revenue | |
Rs 247.0 Cr (2022)
[2] Rs 201 Cr (2021) | |
Website |
www |
Pepperfry Limited, formerly known as Pepperfry, is an Indian online marketplace for furniture and home décor. [3] The company was founded in July 2011 by Ambareesh Murty and Ashish Shah, and is headquartered in Mumbai. [4] As of 2023, Pepperfry has 43 company-owned studios and 142 studios operating under its franchise model. [5]
In May 2022, the company became a public company and announced plans to list on stock exchanges. [6] [7]
Pepperfry was founded in Mumbai in 2011 by Ambareesh Murty and Ashish Shah, both former eBay executives. [8] [4] The company opened its first offline store in Mumbai in 2014 [9] and expanded to over 70 stores across 28 cities in India by 2019. [10] [11] [12] It currently operates 43 company-owned studios in 13 cities and 142 franchise-owned studios in 109 cities, [5] along with a logistics network, PepCart. [13] [14] In 2020, Pepperfry entered the home interior space through partnerships with companies such as Hettich, Bosch, Siemens, Kajaria, and Gyproc, among others. [15]
Pepperfry has warehouses in Bangalore, Jodhpur, Mumbai, and Delhi. [16] [17] [13] In 2023, it added a fifth warehouse in Bangalore's Hoskote area. [18]
In 2023, Pepperfry appointed Ashish Shah as the new CEO after the demise of former chief, Ambareesh Murty. [19]
Pepperfry has raised a total of $285.3 million through ten funding rounds. [7] [1] In 2011, the company secured $5 million in its initial funding round, [20] followed by an additional $8 million in a Series B funding round in 2013. Both funding rounds were led by Norwest Venture Partners India (NVP).
In May 2015, Pepperfry raised $15 million in a Series C funding round, with participation from Bertelsmann India Investments and NVP. [21]
In July 2015, the company raised $100 million in a Series D funding round. This round included investments from early backers as well as notable investors such as Goldman Sachs and Zodius Technology Fund. [22] [23]
In 2016, Pepperfry raised a total of $69 million in a Series E funding round, with State Street Global Advisors and existing investors contributing to the funding. [24]
In 2020, Pepperfry secured $40 million in a Series F funding round, with Pidilite Industries taking the lead as the main investor. [25]
In 2021, Pepperfry raised $5 million in funding, and later on, an additional $40 million through a round of debt funding. The investors in this round included Norwest Venture, General Electric Pension Trust, and 45 family businesses and trusts. [7]
Pepperfry launched the Swadeshi Is Great campaign in 2023 to celebrate and support local artisans and their products. [26]
Company type | Public |
---|---|
Industry |
|
Founded | July 2011 |
Headquarters | , |
Area served | India |
Key people |
|
Products | Furniture, home décor |
Revenue | |
Rs 247.0 Cr (2022)
[2] Rs 201 Cr (2021) | |
Website |
www |
Pepperfry Limited, formerly known as Pepperfry, is an Indian online marketplace for furniture and home décor. [3] The company was founded in July 2011 by Ambareesh Murty and Ashish Shah, and is headquartered in Mumbai. [4] As of 2023, Pepperfry has 43 company-owned studios and 142 studios operating under its franchise model. [5]
In May 2022, the company became a public company and announced plans to list on stock exchanges. [6] [7]
Pepperfry was founded in Mumbai in 2011 by Ambareesh Murty and Ashish Shah, both former eBay executives. [8] [4] The company opened its first offline store in Mumbai in 2014 [9] and expanded to over 70 stores across 28 cities in India by 2019. [10] [11] [12] It currently operates 43 company-owned studios in 13 cities and 142 franchise-owned studios in 109 cities, [5] along with a logistics network, PepCart. [13] [14] In 2020, Pepperfry entered the home interior space through partnerships with companies such as Hettich, Bosch, Siemens, Kajaria, and Gyproc, among others. [15]
Pepperfry has warehouses in Bangalore, Jodhpur, Mumbai, and Delhi. [16] [17] [13] In 2023, it added a fifth warehouse in Bangalore's Hoskote area. [18]
In 2023, Pepperfry appointed Ashish Shah as the new CEO after the demise of former chief, Ambareesh Murty. [19]
Pepperfry has raised a total of $285.3 million through ten funding rounds. [7] [1] In 2011, the company secured $5 million in its initial funding round, [20] followed by an additional $8 million in a Series B funding round in 2013. Both funding rounds were led by Norwest Venture Partners India (NVP).
In May 2015, Pepperfry raised $15 million in a Series C funding round, with participation from Bertelsmann India Investments and NVP. [21]
In July 2015, the company raised $100 million in a Series D funding round. This round included investments from early backers as well as notable investors such as Goldman Sachs and Zodius Technology Fund. [22] [23]
In 2016, Pepperfry raised a total of $69 million in a Series E funding round, with State Street Global Advisors and existing investors contributing to the funding. [24]
In 2020, Pepperfry secured $40 million in a Series F funding round, with Pidilite Industries taking the lead as the main investor. [25]
In 2021, Pepperfry raised $5 million in funding, and later on, an additional $40 million through a round of debt funding. The investors in this round included Norwest Venture, General Electric Pension Trust, and 45 family businesses and trusts. [7]
Pepperfry launched the Swadeshi Is Great campaign in 2023 to celebrate and support local artisans and their products. [26]