Online furniture retailer Pepperfry has raised 350 million rupees (US$4.8 million) in debt funding, according to a statement by the company.
Returning investor: InnoVen Capital, which has already made two previous investments in the company
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Funds raised from the financing round will be used to increase Pepperfry’s footprint across India and help the company in its path toward profitability.
The company claims to have seen significant growth in the past few months with improved economics for its business.
InnoVen Capital has backed over 180 startups, including Byju’s, Swiggy, Oyo Rooms, CureFit, Eruditus, and Dailyhunt, among others.