Urban Ladder plans to raise $25 million

Has applied for a single brand licence

Updated - June 24, 2017 09:26 pm IST

Published - June 24, 2017 08:18 pm IST - Bengaluru

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.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.