Online furniture and home marketplace, Pepperfry, owned by Mumbai-heaquartered TrendSutra Platform Services has raised Rs 250 crores (around $38.5m) in a fresh round of funding led by US-based asset management company State Street Global Advisors, as reported by VC Circle and Mint. With the current investment the asset management arm of State Street Corporation will be joining Pepperfry’s existing investors including Norwest Venture Partners, Goldman Sachs, Bertelsmann India Investments and Zodius Capital.
Shardul Amarchand Mangaldas advised
Cyril Amarchand Mangaldas acted as the Indian legal counsel to
Schulte Roth & Zabel acted as international counsel to
Walkers Global was the other legal advisor in relation to the transaction.
Update 29 May 2019: S&R Associates advised
Founded in 2012 by Ambareesh Murthy and Ashish Shah, Pepperfry is said to have has raised over Rs 1,200 crores since its inception and the recent fundraising by State Street Global Advisors is reported to be the highest amount of capital raised by an e-commerce furniture and home products company in India till date. It was also reported that the fresh capital will be used to expand the company’s experience centres in tier 2 cities, invest in AR and VR technology for virtual touch and feel, and enhance the private brand franchise in preparation for its next financial milestone of an IPO.
2018-03-07
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