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]
 | |
| 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 |
In May 2022, the company became a public company and announced plans to list on stock exchanges.[6][7]
History
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]
Funding
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]
Marketing and campaigns
Pepperfry launched the Swadeshi Is Great campaign in 2023 to celebrate and support local artisans and their products.[26]
Awards and recognition
- 2014: Awarded the "Pure-Play e-Retailer of the Year" at the Indian e-Retail Congress.[29]
- 2019: Entrepreneur magazine recognized Pepperfry as one of the top 10 startups.[30]