Online furniture store Urban Ladder raises $15M: Report
Bangalore based online furniture store Urban Ladder Home Décor Solutions (urbanladder.com) has raised INR 1.02 billion (US$15 million approx), according to business publication, Mint, which had access to documents available with the Registrar of Companies.
Existing investor, Kalaari Capital, pooled in INR 306.4 million (US$4.56 million approx), SAIF Partners invested INR 304.6 million (US$4.54 million), Steadview Capital, contributed INR 271.6 million (US$4.04 million approx) while Sequoia Capital chipped in INR 135.8 million (US$2 million approx), according to the documents.
Urban Ladder refused to comment on the developments. Prior to this, the furniture brand had raised close to $77 million from Sequoia Capital, SAIF Partners, Steadview Capital, Kalaari Capital and others across four rounds of funding. It also raised venture debt worth $3 million (INR 200 million approx) from Trifecta Capital, in August last year.
Besides selling on urbanladder.com, the company had last year tied up with Amazon and Flipkart to sell part of its catalog on the marketplaces to increase traction.