Mumbai-based furniture brand Pepperfry has quietly raised ₹43.3 crore (approx. $5.1 million) in fresh capital from its long-time backers, signaling ongoing investor confidence even as its IPO plans remain paused.
The latest round saw participation from familiar names—General Electric Pension Trust, Norwest Venture Partners, Goldman Sachs, Panthera Growth Partners, and the Growth Equity Opportunity Fund. GE Pension Trust led the charge with ₹21.5 crore, followed by ₹8.5 crore from Norwest and ₹6.4 crore from Panthera, according to regulatory filings accessed by Entrackr via the Registrar of Companies.
Continue Exploring: “Kuch Nahi Hoga”—Anupam Mittal Challenges This Dangerous Mindset in Policy Bazaar’s New Ad
The capital was raised through the allotment of about 5.6 lakh compulsorily convertible preference shares priced at ₹775 apiece.
This isn’t Pepperfry’s first dance with this group of investors. In September 2023, the same consortium infused $23 million into the business. And back in 2021, the company secured $45 million in debt funding to prepare for what was then a highly anticipated public listing.
Continue Exploring: Lahori Beverages Nears ₹450 Crore Fundraise as Valuation Soars to ₹2,500 Crore – A New Challenger in India’s Booming Drinks Market
Founded in 2012, Pepperfry officially became a public entity in 2022 in anticipation of an IPO worth $250–300 million. But in 2024, those plans were shelved after market consultations, with co-founder Ashish Shah stating the focus had shifted toward strengthening fundamentals and driving profitability. For now, Pepperfry’s listing ambitions are on ice—but its backers clearly haven’t walked away.
