Online furniture retailer Pepperfry said it has raised Rs. 250 crore in a fresh funding round from USA-based investor State Street Global Advisors to consolidate its lead in furniture retail, by expanding its offline presence and logistics network.
Pepperfry chief executive Ambareesh Murty said in an interview that the company will use the funds to expand its supply chain, invest in technology and open new stores. Murty declined to comment on the company’s valuation. Entry of a new investor into Pepperfry comes as a validation for the retailer, especially in a market where few e-commerce companies have been able to attract new investors.