Leading online furniture and home decor firm Urban Ladder has raised $50 million (Rs.312 crore) in a new round of funding led by venture firm Sequoia Capital to expand its operations, the company said here on Thursday.
"As geographical expansion will be a key focus area, we will be present in 30 cities across the country by this year-end," Urban Ladder co-founder and chief executive Ashish Goel said in a statement here.
Besides Sequoia, TR Capital and its investors -- Steadview Capital, SAIF Partners and Kalaari Capital -- participated in the fresh round of funding to raise additional capital.
The three-year-old city-based virtual marketplace had earlier raised $27 million from Steadview, SAIF and Kalaari.
Tata group chairman emeritus Ratan Tata also invested an unspecified amount in the start-up in November 2014.
"We will remain focused on our design thinking, product quality and customer experience," Goel asserted.
Launched in July 2012 with a view to 'making a million Indian homes beautiful', the company offers a curated range of 4,000 products across 35 categories in furniture and home decor.
"We are investing in Urban Ladder, as we share its vision of making quality home products available online to Indian consumers and look forward to working with its team to help build an enduring business," Sequoia's Indian subsidiary managing director Gautam Mago said in the statement.
With technology as a key driver for growth, Urban Ladder is working on innovations to solve complex furniture e-commerce problems.
"We are investing in technology to introduce world class innovations that will simplify furniture shopping," the company's chief operating officer Rajiv Srivatsa said.
