Funding Digest: Urban Ladder, JustEat, Ketto Raise Funds
Urban Ladder Raises $5 million Series A Funding
Indian online furniture store Urban Ladder has raised USD 5 million (approx INR 30 crore) Series A funding. Launched in mid 2012, Urban Ladder had raised their initial funding of USD 1 million from Kalaari Capital in August 2012.
The current round of funding is led by SAIF partners with existing investors Kalaari capital participating in the round.
The funds raised by Urban Ladder will be utilized to strengthen their customer service, technology platform and expansion of their furniture product range. Urban Ladder aims to become the largest furniture store in India within next 18 to 20 months.
Deepak Gaur, MD of Saif Partners commented, “Furniture in India is a huge market with potential to create a large online business. In this category, Urban Ladder has been able to differentiate itself by offering unique and innovative designs and excellent customer experience. We believe that the company has the promise of break-out growth. We are excited to partner with Ashish and Rajiv in this journey.”
Crowd funding platform Ketto Raises $150k Angel Investment from ah! Ventures & Calcutta Angels
Ketto.org, Mumbai based online crowd-funding platform has raised angel funding of $150,000 from ah! ventures and not-for-profit angel network Calcutta angels. The funds will be utilized for general expansion including product development and marketing.
Ketto was launched in October 2012 by Varun Sheth, Kunal Kapoor and Zaheer Adenwala. The platform allows individuals, NGOs and organizations to list projects that are social in nature and are in need of funding. Ketto has also won Google Grants award in 2012.
JustEat Raises 3rd round of Funding from JustEat Holdings, Forum Synergies and Axon Venture Partners
Justeat.in, Bangalore based online food takeaway business today announced it’s 3rd round of funding from JustEat Holdings, Forum Synergies and Axon Venture Partners. Hemchandra Javeri, who was previously CEO of Madura Garments and Nike India, has joined JustEat’s board.
The quantum of funding has not been disclosed. The funds will be utilized strengthen their team increase their restaurant reach and expand to more cities.
Currently, JustEat has signed up over 2,500 restaurants in Bangalore, Delhi NCR and Mumbai.