Urban Ladder, an online furniture store, has raised INR1.2 billion, or about $20 million, in Series B financing. The funding was led Steadview Capital, and participated in by existing investors including SAIF Partners and Kalaari Capital. The funds will help the company expand its product range and service area, with the latter reportedly enlarging to reach up to 30 cities in India by March of 2015. Through three rounds of financing since its founding in 2012, Urban Ladder has raised a total of about $26 million in equity financings.
The financing adds to the growing total of VC investment that Internet retail providers are bringing to India. Companies like Flipkart and Snapdeal lead the way, but home decor sites are doing well for themselves as another company, Pepperfry, brought in a round of $16 million in May.