India: Furniture e-tailer Pepperfry raises $38.5m from State Street Global Advisors

Online furniture retailer Pepperfry said it has raised Rs250 crore in a fresh funding round from US-based investor State Street Global Advisors to consolidate its lead in furniture retail, by expanding its offline presence and logistics network.

Pepperfry chief executive Ambareesh Murty said in an interview that the company will use the funds to expand its supply chain, invest in technology and open new stores. Murty declined to comment on the company’s valuation.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter