Five month old ecommerce startup - Pepperfry.com has secured $5Mn from Norwest Venture Partners.
Mumbai based PepperFry - founded by Ambareen Murthy, who earlier was a country manager with EBay is yet to be launched. The launch is expected during the Christmas season. The portal will offer a range of 25,000+ pocket happy lifestyle products across multiple categories such as clothing, furniture & home decor, precious & fashion jewellery, lifestyle accessories and personal care.
It features brands such as Lotto, Little India, Peter England, Beverly Hills Polo Club, Octave, Allen Solly, L’oreal among others, and allows users to browse various departments using filters for brands, product type, size, colour, design and other variables. The site also takes bulk orders for products like customized T-Shirts, corporate and wedding gifts and we assume that discounts vary since there’s a personalized enquiry form for the purpose.Pepperfry claims to stock more than 8,000 products.
The site claims to ship products to 220 countries across the world and over 17,000 pin codes and 300 cities in India, however there is an additional charge for product shipments outside India
This is Norwest Venture Partner's third internet investment in two months. Last month, NVP alongwith Intel Capital, Sequoia and Nokia Growth Partners invested $40Mn in Fashionandyou.com. It also invested $17Mn in FashionAndYou's sister concern DealsandYou.com along with Mayfield Fund, Nokia Growth Partners and Intel Capital.
It's other internet investments in India include Quikr, Sulekha and Yatra Online.
This announcement comes at a time when Battery Ventures backed Taggle.com has shut shop.
Read Here: Battery Ventures Backed - Taggle Shuts Shop
Also Read:
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KVEZAR VIEW
| Date | Type | Buyer | Target | Size ($mn) | State |
| 17/06/2013 |
Venture Capital |
Malik Radix Healthcare |
Oneup Ventures Private Limited |
0.10 |
Completed |
| 13/06/2013 |
Venture Capital |
Delivery Hero |
Trinket Info Services Private Limited |
5.00 |
Completed |
| 04/06/2013 |
Venture Capital |
Nexus India Capital |
Housing.co.in |
0.04 |
Completed |
| 30/05/2013 |
Venture Capital |
Inventus Capital Partners |
eDreams Edusoft Private Limited |
2.00 |
Completed |
Fund |
| Name | Corpus | Target Sector | Website | KeyContact |
| Norwest Venture Partners |
3700 |
IT/ITES/Technology
Telecom
Education
BFSI
Consumer Goods |
http://www.nvp.com/global/nvpIndia.aspx |
Sohil ChandNiren Narendra ShahShiv ChaudharyPramod Haque
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