Pepperfry, an e-commerce furniture and home goods marketplace, has announced the elevation of its co-founder Ashish Shah to the position of Chief Executive Officer (CEO). “This appointment follows the untimely demise of Ambareesh Murty, Pepperfry’s co-founder and former CEO,” the company said in a statement.
“The best tribute to Ambareesh will be to build on the foundation laid by us and fortify Pepperfry’s position as India’s leading furniture and home products company,” said Mr. Shah. The company also announced that it had raised $23 million in funding from existing shareholders, including institutional investors and family offices.
“The latest round of capital infusion will strengthen Pepperfry’s ability to cater to the evolving needs of its over 10 million and increasing customer base through a strong omnichannel presence, a robust supply chain and tech driven innovation,” the company said.