Existing investors Steadview Capital, SAIF Partners and Kalaari Capital also participated.
Urban Ladder was founded by Ashish Goel (CEO) and Rajiv Srivatsa (COO) in July 2012. It is an online furniture and home décor company that aims to provide a curated destination for home solutions. The startup claims that it has over 4,000 products and 35 categories such as wardrobes, sofas, beds, dining tables, storage shelves, etc. The furniture is curated with design inputs from Urban Ladder’s in-house team of experienced designers.
At present, the startup delivers to 12 cities in India (Bangalore, Mumbai, Delhi/NCR, Chennai, Pune, Hyderabad, Cochin, Ahmedabad, Chandigarh, Surat, Kolkatta and Mangalore).
“Over the last three years, we have stayed sharply focussed on our design thinking, product quality and customer experience. While these will continue to be important themes, geographical expansion will also be a key focus area this year. We will be present in 30 cities by the end of 2015,” said Goel.
Prior to this round, Urban Ladder had raised US$20 million in Series B funding, led by Steadview Capital in July last year. Ratan Tata, Chairman Emeritus, Tata Group, made a personal investment in the company in November 2014. Other investors in the company include SAIF Partners.
Companies operating in the online furniture space include VCs-backed Fabfurnish and Pepperfry.