Online furniture company #urban ladder has raised Rs. 120 Cr. ($21 million) in Series B round of funding. This round is led by Steadview Capital, along with existing investors SAIF Partners and Kalaari Capital. The company had earlier raised $5 million lead by SAIF Partners in November’13 and $1mn from Kalaari Capital in August’12.
No Offline Plans; Will Push The Technology Envelope
Unlike competitors like FabFurnish which has opened a few offline stores, UrbanLadder has no plans to go offline. Cofounder Rajiv mentions that the big focus will be on pushing the technology envelope.
Their Wardrobe configurator app lets you configure the entire wardrobe without the need for bringing a carpenter. Post Series B funding, Urbanladder will focus on building more such technology solutions for the furniture industry.
“World-class product design and exceptional customer experience have been our key differentiators in the market, and have helped us establish our dominance as the preferred furniture company in the country. We will continue to strengthen these aspects with focus on innovative technology, which will further elevate customer experience.” said Ashish Goel, CEO & Co-founder, Urban Ladder.
Started in 2012, Urban Ladder offers over 1000 products across 25 categories in furniture such as wardrobes, beds,sofas, dining tables, coffee table. It plans to further expand the product range and service 25-30 cities in India by March 2015.