India-based online retailer Pepperfry has raised $100m in a series D round featuring media company Bertelsmann’s local investment vehicle Bertelsmann India Investments, the Wall Street Journal reported yesterday.
Investment bank Goldman Sachs led the round, which also included Norwest Venture Partners, the venture capital firm investing on behalf of financial services firm Wells Fargo, and VC fund Zodius Technology Fund.
Launched in 2012, Pepperfry operates an online store focused on furniture, home decor and pet supplies. The company employs carpenters and manufactures many of its products itself, while also taking charge of logistics with a 350-strong fleet of delivery vehicles.
Pepperfry was initially reported in February 2015 to be seeking $80m in its series D round. It will use the funding to expand its fleet, open more distribution centres and increase its assembly services.
The company was also said in February to be raising capital in order to support the creation of 19 studios across the country that would showcase 50 to 60 furniture pieces and offer free walk-in consultation. The WSJ has not confirmed whether this is still the case.
Bertelsmann and Norwest previously provided $16.1m in series C funding for Pepperfry in May 2014. Norwest also supplied $5m in series A capital for the company in 2011 and an additional $8m in 2013.