Urban Ladder, the online home decor marketplace which recently scooped in a $50 Million round and Ratan Tata investment, has now raised a new, undisclosed round from Silicon Valley-based entrepreneurs Anand Rajaraman and Venky Harinarayan (via ET).
Financial details and the amount invested have been kept under wrap. Urban Ladder’s focus right now, is towards developing a better mobile platform, which is a quite a trend in India these days, largely due to the growing use of smartphones by consumers for their shopping needs. The startup is also looking to triple the size of its technical team in the next six months.
Including the just raised Series C round, the online home decor company has in total raised $87 Million worth of capital, which also includes investment in personal capacity by one India’s most respected businessmen and Chairman Emeritus Tata Group, Mr. Ratan Tata.
Urban Ladder currently offers a wide-range of furnishing options, spanning across multiple categories, which includes living, office furniture, kids, storage, home decor etc. With this freshly raised capital, the startup aims at geographical expansion along with an investment in technology and hiring.
Housing related online businesses have seen a sudden surge within the country. While India’s slumped economic growth during past years resulted in slowed up real-estate businesses, a revamped economic forecast and improving growth has resulted in numerous online real-estate/housing related companies raising substantial rounds. Certain recent examples for the same include Google Capital backed CommonFloor, Sequoia backed Housing.com, HomeLane etc.