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Urban Ladder Raises $15 Mn From Kalaari, SAIF Partners, Others – Total Funding Climbs To $95 Mn

Urban Ladder Raises $15 Mn From Kalaari, SAIF Partners, Others – Total Funding Climbs To $95 Mn

At a time when most startups are resorting to cost-cutting due to a dearth of investments, online furniture retailer Urban Ladder has raised about $15.2 Mn from existing investors.

Existing investor Kalaari has invested about $4.56 Mn (INR 30.64 Cr), while SAIF Partners has invested $4.54 Mn (INR 30.46 Cr) in this round. Steadview Capital has also invested $4.04 Mn (INR 27.16 Cr), and Sequoia Capital contributed about $2 Mn (INR 13.58 Cr), as per filings with ROC.

A query sent to Urban Ladder regarding the funding was passed on with a “no comments” response.

Founded in 2012 by Ashish Goel and Rajiv Srivatsa, Urban Ladder offers over 4,000 products across various furniture categories including wardrobes, beds, sofas, dining tables, and coffee tables.

This comes at a time when the online furniture retailer is planning to open offline stores as it shifts its business model from an ecommerce platform to a furniture brand.

Urban Ladder is one of the most well-capitalised online furniture businesses, backed by Ratan Tata, Sequoia Capital, Steadview Capital, SAIF Partners, and Kalaari Capital. Till date, it has raised about $77 Mn. In August 2016, it raised $3 Mn in venture debt from Trifecta Capital.

Urban Ladder competes with Pepperfry, Furlenco, and Fabfurnish in the furniture etailer space. Pepperfry has raised $128 Mn, so far from Goldman Sachs, Norwest Venture Partners, and Bertelsmann India Investments, among others. And Kishore Biyani-led Future Group acquired Rocket Internet-backed online furniture startup FabFurnish in April 2016.

(This development was first reported by Mint).