Furniture retailer Pepperfry has raised 43.3 crore rupee (US$5.1 million) in funding from existing investors, including Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners.
General Electric Pension Trust led the round with 21.5 crore rupee (US$2.5 million). The company issued 5.6 lakh compulsorily convertible preference shares at 775 rupee (US$9.08) each through private placement.
This funding follows a US$23 million round in 2022 and 45 million rupee (US$527,220) in debt funding in 2021.
Pepperfry, founded in 2012 and turned public in 2022, had prepared for an IPO that was later postponed. In FY24, operating revenue declined 30.6% to 188.9 crore rupee (US$22.1 million), but losses reduced by 37.4% to 117.4 crore rupee (US$13.8 million).
