Urban Ladder raises Rs. 78.2cr from Kalaari Capital and others
Bengaluru-based home-furnishing company Urban Ladder has raised $12mn in an internal funding round from Kalaari Capital, Saif Partners, Sequoia Capital, and Steadview Capital. Along with $15mn raised in Jan'17, these funds will be used towards Urban Ladder's omnichannel expansion. The company said investors believe the omnichannel approach and profitability push (in FY18-19) "is a winning strategy to build a powerful retail brand". Here's more.
Urban Ladder has three stores in Bengaluru
Urban Ladder currently has two large format stores in Domlur and Whitefield and one sofa lounge in HSR Layout in Bengaluru. It has distribution across more than 75 Indian cities. The home-furnishing company continues to study other cities for its next phase of expansion, aiming at 15-20 stores across India by March 2019, the company's statement said. It has raised $103mn until now.
Offline expansion, extremely well-received by customers
"Our offline expansion in Bengaluru has been extremely well-received by customers for the differentiated furniture-shopping experience. This has energized us to chart the next course of our retail journey and build India's largest furniture brand by March 2019," said Urban Ladder Co-founder/CEO Ashish Goel.
Started as an online furniture store
Ashish Goel and Rajiv Srivatsa set up Urban Ladder Home Decor Solutions in 2012 as an online brand. The home furnishing company embarked on its offline retail strategy only in July 2017. In August last year, it received approval for a Single Brand Retail Trading (SBRT) license, and since then, Urban Ladder has transitioned from a marketplace to an inventory-led omnichannel brand.
