The Silicon Valley based entrepreneurs have come on board as investors at a time when the company is ramping up its technology platforms and offerings.
Web and Technology entrepreneurs Anand Rajaraman and Venky Harinarayan have made an investment in Urban Ladder, an online furniture and home décor company. The Silicon Valley based entrepreneurs have come on board as investors at a time when the company is ramping up its technology platforms and offerings, to redefine furniture shopping in India.
“Urban Ladder is on massive growth path to achieve its vision of making a million homes beautiful. The company is strengthening its product portfolio and introducing new categories, along with geographical expansion to 30 cities by the end of the year,” stated the company’s official release.
Urban Ladder has thus far raised $77 million from Sequoia Capital, TR Capital, Kalaari Capital, SAIF Partners and Steadview Capital in the last 3 years. Ratan Tata, Chairman Emeritus, Tata Group made a personal investment in the company in November 2014.
Urban Ladder believes that technology will be a key driver and therefore it is working on several tech innovations to solve complex furniture e-commerce problems. Some of the key focus areas for Urban Ladder are mobile, data and analytics and product visualization. Besides, the company will triple the size of its tech team in the next 6 months.
“We are thrilled to have veterans like Anand and Venky onboard as investors to mentor and guide us. They have done some fantastic work in technology, and set very high global benchmarks. It is great that they believe in the potential of the Indian e-commerce industry and are reinvesting in the ecosystem,” said, Ashish Goel, CEO and Co-founder, Urban Ladder.
Anand and Venky co-founded Junglee Corp in 1996, and pioneered internet comparison shopping. They co-founded Cambrian Ventures, an early stage VC fund in 2000, and Kosmix, a website that organizes the internet by topic in 2005. In 2011, Kosmix was acquired by Walmart and both Anand and Venkyheaded the WalmartLabs operations till June 2012.
“Furniture and home décor is a highly unorganized category in India, and Urban Ladder has been able to fill the need gap by finding great solutions for customers. The company’s journey has been very impressive. It’s a great team, off to a terrific start, and well positioned to be the leading furniture and home décor company in India,” said, Anand Rajaraman, Founding Partner, Cambrian Ventures.
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