Urban Ladder raises $12M in fresh funding from existing investors

Bangalore-based Urban Ladder has raised $12 million in a fresh funding round from existing investors.

The round was led by Kalaari Capital, Sequoia Capital, Steadview Capital and SAIF Partners who put in $2.9 million each. The company says that these funds will be used towards Urban Ladder’s omnichannel expansion.

Urban Ladder co-founder and CEO Ashish Goel said, "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."

"The timing and the confluence of these initiatives will really strengthen our product innovation, category expansion, and push for profitability in FY 18-19," he added.

Urban Ladder currently has two large format stores in Domlur and Whitefield and one sofa lounge in HSR Layout in Bangalore. The company continues to study other cities for its next phase of expansion, aiming at 15- 20 stores across India by March 2019.

Urban Ladder, founded in 2012 by Ashish Goel and Rajiv Srivastava, has raised a total of over $100 million —through a mix of equity and debt including the latest round—from investors including Ratan Tata, SAIF Partners, Kalaari Capital and Sequoia Capital.