Pepperfry Receives $10 Million in Debt

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Pepperfry Receives 10 Million in Debt
Hybrid furniture market Pepperfry has
acquired the second tranche of 10 mn
dollars from investors in form of obligatory
convertible debt. This is the second round of
debt that they have acquired till now. In
February, Pepperfry received Rs 35 from the debt
firm InnoVen Capital. According to its
regulations, Pepperfry has approved the issue of
CCD 74348 (Series A-class) with a face value of
10,000 to raise about the 74 crore mark, which is
around 10 million. Norwest Venture Partners,
Broad Street Investments, and Erste WV
Guttersloh are the most prominent players in
this tranche.They are worth 23.28 crore and 15
crores and 18 crores per. Panthera Growth Fund,
General Electric Pension Trust as well as
Madhumala Ventures have also joined this
round. Also read Setu Records Rs 3 Cr Revenue
in Fy21 Even as Losses Climb to Rs 19 Cr It's
important to know it is important to note that
Madhumala can be a part of Pidilite Industries
limited, which has invested in Pepperfry in
the month of May last year. Pepperfry is
valued about 462 million in the round, based on
Fintrackr's estimates. The company, which has
been in existence for a decade, was created by
Ambareesh Murty and Ashish Shah is based on a
marketplace model with both online and offline
formats. Pepperfry is a platform that offers more
than 11,000 items and connects brands like
Spacewood, Godrej and Springfit to buyers.
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At the end of June, Pepperfry boasted having more
than 70 studios offline across 40 cities.
According to a Mint article, Pepperfry plans to
apply for an Initial Public Offering (IPO) during
the 1st quarter of 2022. It is expected to fund a
public pre-public offering that will range from
50- 100 million at the end of the year. Also
read INDmoney is Expected to Raise 100 Mn in a
Round Led by Tiger Global Although the company
hasn't released its annual financial report
for FY21, it reported an increase of 26
in revenues to 260.61 crores for FY20. The
company has also reduced its losses by
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