Pocket Friendly Deals Site PepperFry.com Receives $5 Mn From NVP

A mere five months from initiation, Mumbai based PepperFry – founded by Ambareesh Murthy has received US$ 5Mn from Norwest Venture Partners (NVP).

Ambareesh Murthy was instrumental in heading EBay India as Country Manager & wishes to delay the launch of the site till Christmas apparently to cash-in on the holiday buying season. He seems to be a very strong reason for NVP to invest such a neat amount for an yet to be launched startup, as it was made apparent by Niren Shah, MD, NVP India, “Our decision to invest in Pepperfry was an easy one. Pepperfry has a strong team, extensive e-commerce and retail expertise and great execution abilities reflected in the imminent launch of www.pepperfry.com in less than five months since commencing operations.”

So What are PepperFry’s Strengths?

What sets PepperFry apart is the selling model & segment chosen by Murthy. He wishes to sell only pocket-friendly lifestyle products. Categories though, include Clothing, Furniture & Home Décor, Precious & Fashion Jewelry, Lifestyle Accessories and Personal Care. How these products fall under the “Pocket-Friendly” slab, will be revealed only when the site is officially unveiled. Further, echoing the business acumen of quick delivery, Pepperfry has ground sourcing and fulfillment operations in Delhi and Jodhpur. The current strength of the team is 70 & is expected to grow further.

Site claims to have more than 8,000 products from popular brands like: Lotto, Peter England, Beverly Hills Polo Club, Allen Solly, L’oreal & many more. Visitors to the site can easily browse for products setting filters for brands, product type, size, color, design etc.

Global multi-stage investment firm NVP has been on an investment spree lately, with pumping money in other e-commerce sites ‘FashionAndYou.com’ and ‘DealsAndYou.com’ owing to the increasing funding interest in the rapidly growing Indian e-commerce space.

If the team doesn’t get discouraged by latest statistics, it could very well stand a chance to win the IAMAI awards next year.

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