Online furniture store Urban Ladder raises $5 million1 min read . Updated: 18 Nov 2013, 01:04 PM IST
Urban Ladder is raising the money from investment firms SAIF Partners and Kalaari Capital
Mumbai: Online furniture store Urban Ladder has raised $5 million (around ₹ 31.5 crore today) from SAIF Partners and Kalaari Capital. The company had earlier raised $1 million from Kalaari Capital in August 2012.
Urban Ladder was launched in July 2012 and sells furniture in Bangalore, Delhi, Mumbai, Chennai and Pune.
“We are on track to achieve our goal to be the largest furniture store, online or offline, in India within the next 18-20 months," co-founder and chief executive Ashish Goel said. “This round of funding will further help strengthen our customer service experience, technology platform and expand our reach and product range."
Investment firm SAIF Partners has invested in companies such as Makemytrip.com, Justdial.com and FirstCry.com.
“Furniture in India is a huge market with potential to create a large online business," said Deepak Gaur, managing director, SAIF Partners.
Urban Ladder offers nearly 25 categories in furniture such as beds, sofas, dining tables, coffee tables, and has over 500 products. It plans to expand categories and its reach to more Indian cities.