Pepperfry raises $15 million

Online furniture retailer Pepperfry has raised $15 million (about Rs 90 crore) from the Indian investment arm of global publishing and media company Bertelsmann, and existing investor, Norwest Venture Partners.

This e-retailer plans to utilise the funds raised for marketing, improving supply chain and expanding the reach of its last-mile delivery. In addition, this player will shortly launch brick-and-mortar stores in Mumbai, Bangalore and NCR region.

Ambareesh Murty, Co-founder and Chief Executive of Pepperfry, in a media interaction,

said, "We want to expand the reach of our brand.”