Urban Ladder, an online furniture retailer which is foraying into the offline furniture business, plans to raise between $25 and $27 million by the middle of 2018 and expects to become profitable in two years.
The company will utilise the funds to expand its offline retail business which is to be rolled out in the first week of July this year, said Rajiv Srivatsa, co-founder and Chief Operating Officer, Urban Ladder.
“We would like to raise another $25-$27 million in funding that would be the last round of money we may raise before profitability,” Mr. Srivatsa said. “The money will be utilised to fasten our offline retail rollout and expect to become profitable within two years.”
The firm founded in 2012 by IIM Bangalore alumni Ashish Goel and Rajiv Srivatsa has so far raised about $98 million from various investors like Kalaari Capital, SAIF Partners, Steadview Capital and Sequoia. Ratan Tata is also an investor in the company. It had applied for a single brand retail licence last year.
