Pepperfry raises Rs 35 cr debt funding from InnoVen Capital

InnoVen Capital on Friday said it has invested Rs 35 crore in Mumbai-based online furniture marketplace Pepperfry.com.

This is the third investment by InnoVen Capital in Pepperfry, which it had first funded in 2017, a statement said.

''We remain focused on expanding Pepperfry's leadership position in the Indian furniture and home e-commerce. Our business has seen strong momentum through COVID and we continue to make good progress towards achieving profitability and managing cash flows,'' Pepperfry Chief Financial Officer Neelesh Talathi said.

These funds will be used to increase the company's footprint across the country and capitalise it even beyond achieving profitability, he added.

Sameer Mansukhani, Senior Director at InnoVen Capital India, said Pepperfry has built a strong brand over the years.

“We have seen Pepperfry grow and emerge as a category leader, while adding new capabilities and product offerings on its platform...this investment reaffirms our commitment to back high performing portfolio companies across their life cycle,'' he added.

To date, InnoVen Capital India has completed over 250 transactions with more than 180 start-ups, including Byjus, Swiggy, Oyo Rooms, CureFit, Eruditus, Dailyhunt, FirstCry, Snapdeal, PharmEasy, boAt, Licious, Myntra, Blackbuck, Rebel Foods, Pepperfry, Infra.Market, Zetwerk and others.