Bangalore based, online home decor retailer Urbanladder has raised undisclosed amount in Series A round of funding led by the Saif Partners. With this round of funding Deepak Gaur, Partner at Saif Partners has also joined the board of Urbanladder.
In August last year, Urbanladder had raised USD 1 million in Seed funding led by Kalaari Capital, with which Vani Kola is also on the boards of the company.
Urbanladder was co-founded by Ashish Goel and Rajiv Srivatsa in January 2012 and it was looking to raise USD 6mn in Series A funding since past few months.
Though Ashish Goel has neither accepted nor denied the funding.
It is a private label player and deals across furniture categories including beds, sofas, dining tables, tables, shelves, seating, accessories, etc. with its operations in Bangalore, Mumbai, Delhi/NCR, Chennai and Pune
The company also plans to soon launch its operations in Hyderabad.
“We are now comfortably the largest furniture seller online, growth is going well,” said Ashish Goel.
Furniture is considered as one of the profitable business online due to high margins and as the average ticket size is larger, with a margin of 30-40% thus consumer acquisition cost is justified.
Recently, online marketplace Snapdeal has also forayed into the furniture category. Others players catering to the same segment include Zansaar, Pepperfry, Fabfurnish, Mebelkart, etc. The recent fundings under the same category include Blume ventures investing in Bedbathmore and Pepperfry raising USD 8 million from Norwest Venture Partners in Series B.
Saif Partners has been investing in India since 2001, and has made about 30 investments so far. Its other ecommerce investments include Firstcry, Zovi, Inkfruit, Homeshop18, etc.