In February, Pepperfry received Rs 35 from the debt firm InnoVen Capital.
According to its regulations, Pepperfry has approved the issue of CCD 74348 (Series A-class) with a face value of 10,000 to raise about the 74 crore mark, which is around $10 million.
Norwest Venture Partners, Broad Street Investments, and Erste WV Guttersloh are the most prominent players in this tranche.They are worth 23.28 crore and 15 crores and 18 crores per. Panthera Growth Fund, General Electric Pension Trust as well as Madhumala Ventures have also joined this round.
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It's important to know it is important to note that Madhumala can be a part of Pidilite Industries limited, which has invested in Pepperfry in the month of May last year. Pepperfry is valued about $462 million in the round, based on Fintrackr's estimates.
The company, which has been in existence for a decade, was created by Ambareesh Murty and Ashish Shah is based on a marketplace model with both online and offline formats. Pepperfry is a platform that offers more than 11,000 items and connects brands like Spacewood, Godrej and Springfit to buyers.
At the end of June, Pepperfry boasted having more than 70 studios offline across 40 cities.
According to a Mint article, Pepperfry plans to apply for an Initial Public Offering (IPO) during the 1st quarter of 2022. It is expected to fund a public pre-public offering that will range from $50-$100 million at the end of the year.
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Although the company hasn't released its annual financial report for FY21, it reported an increase of 26% in revenues to 260.61 crores for FY20. The company has also reduced its losses by 33%.
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