The company was expected to file for an IPO during 2021 but delayed its plans, according to a report in Entrackr.
The company logged Rs 272 crore in revenue from operations in FY23 from Rs 247 crore in FY22, according to its financial statements with the Registrar of Companies (RoC).
The advertising and promotion cost marked 22 per cent of the overall expenditure. Pepperfry also roped in Bollywood celebrities
The online furniture store in September elevated its co-founder
The company also secured $23 million in funding from existing shareholders, including institutional investors and family offices, underscoring their confidence in the company's vision and strategic plans for the future.
As the COO of the company, Shah played a pivotal role in shaping Pepperfry's customer-centric strategy, supply side strengths, and operational excellence.
The latest round of capital infusion will strengthen Pepperfry's ability to cater to the evolving needs of its over 10 million and increasing customer base through a strong omnichannel presence, a robust supply chain, and tech-driven innovation. Pepperfry said it will reiterate its fundamental proposition of variety and leverage its retail footprint of more than 190 Studios in over 100 cities.
The company's investors include