Thursday, August 09, 2012 03:49 PM IST (10:19 AM GMT)
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UrbanLadder Raises Funding from IndoUSVenture Partners
Mumbai, Maharashtra, India,
Thursday, August 09, 2012
-- (Business Wire India)
Recently launched UrbanLadder.com, led by Ashish Goel, (ex – McKinsey, ex-COO of ACK Media); and Rajiv Srivatsa (ex-Yahoo) announced today that the company has raised its first round of funding of $1 Million . IndoUS Venture Partners has led the round from its recent fund.
The vision behind UrbanLadder.com is to provide Great Furniture, and Make it Easier for its customers. UrbanLadder.com offers a unique experience of buying furniture from a wide range of products that are beautifully designed are durable and dependable. Purchasing is convenient through easy payment options, door delivery and after-sales support.
“The Indian consumer struggles to find good quality, well-designed and well manufactured furniture at reasonable prices. We aim to delight the Indian consumer by offering a distinctive and deep product range, a memorable shopping experience online and forthright business practicesall of which adhere global benchmarks”, said Ashish Goel.
The company will use the funds to expand the team, build the customer service infrastructure and invest in technology to give the consumer a distinctive experience. UrbanLadder.com has recently added Nikhil Ramaprakash as VP, Online Product, Kaustabh Chakraborty as VP, Operations and Shubha Hegde as VP, Marketing.
”Home décor is a large and under-served opportunity. This large market requires solutions that offer customers value and requires affordable products with a convenient buying experience. The team at UrbanLadder have a highly differentiated approach and we are pleased to support them in building a leading brand that stands for quality furniture and convenient customer experience”, said Vani Kola, MD, IndoUS Venture Partners.
Urbanladder.com currently offers an eclectic range in coffee tables, side tables, dining tables, balcony sets, book-racks, display units, wall racks and a host of other products. They will continue to rapidly add new products to their offering, including sofas and beds and other specialty furniture like easy chairs and bunk beds. Their exclusive range includes denim furniture and reclaimed furniture, which are available for the first time to the Indian market.
“We have an elegant and simple digital store-front, with deep product information. The category suffers from a lack of standardization in product specs and insufficient information availability, leading to core issues in the consumer purchase process and post-purchase dissonance. We are striving to deliver a much better, informed buying experience to our customers”, explained Rajiv Srivatsa.
About IndoUS Venture Partners
IndoUS Venture Partners (IUVP) is a leading venture capital firm which provides early and mid-stage funding to new or growing businesses in India. The team comprises of experienced entrepreneurs and executives who understand the model of incubating ideas and transforming them into successful enterprises. IUVP invests in tomorrow’s business leaders, explosive new markets and enterprises that will transform our future. [Website: www.iuvp.com]
To learn more, visit: www.Urbanladder.com
For press backgrounder on UrbanLadder click here
Media contact details
Pooja Mishra,Sr. Account Executive,
KEYWORDS: CONSUMER, PEOPLE, MARKETING, BUSINESS SERVICES, COMMODITIES, HOUSEHOLD, GROUPS, RETAIL