Indian furniture platform Pepperfry raises $4.8m debt from InnoVen Capital
Photo: Unsplash
February 14, 2021
Venture debt firm InnoVen Capital on Friday said it has invested Rs35 crore in debt in Mumbai-based online furniture marketplace Pepperfry, making it their third investment in the startup since 2017.
“We remain focused on expanding Pepperfry’s leadership position in the Indian furniture and home e-commerce. Our business has seen strong momentum through covid and we continue to make good progress towards achieving profitability and managing cash flows. These funds will be used to increase our footprint across the country and capitalise us even beyond achieving profitability,” said Neelesh Talathi, chief financial officer at Pepperfry.
Disney+Hotstar has 25 mn users
Premium
In a price-sensitive market like India, Hotstar is priced at Rs. 299 per annum for its VIP service and Rs. 1,499 for Premium.
1 min read
Share Via
Read Full Story
Three out of 10 paid subscribers of Walt Disney’s streaming video service are in India where it operates as Disney+ Hotstar, the entertainment conglomerate’s quarterly earnings report showed.
Disney+ Hotstar has around 25 million paid users out of Disney’s global total of 94.9 million, the company said. The figure however, also includes Indonesia where the service has around 2.5 million subscribers.
TRENDING STORIESSee All
1 min read
2 min read
After a year when its loss increased 72% year-on-year (YoY) to INR 183.49 Cr, Pepperfry managed to turn the tide, rein in the expenses and cut losses by 33% to a little over INR 122 Cr.
A chief factor for Pepperfry’s better financial performance was the increase in revenue by 26% YoY to INR 260.61 Cr. Moreover, expenses fell, albeit marginally, by 1.79% to INR 383 Cr.
Of the company’s total revenue, INR 246 Cr was operational revenue, of which, INR 245,88 Cr was from the sale of services, while INR 0.15 Cr was license fees.
For Pepperfry, revenue from operations comprises commission from suppliers of furniture and other products sold through its ecommerce site and app. The company has a contractual arrangement with many of the suppliers. In addition to over 10K sellers, the company has 10 private label brands including Woodsworth, Mintwud, Casacraft, Amberville, Bohemiana, Mudramark, Mollycoddle, Clouddio, Primorati and Mangiamo.