Pepperfry set to raise $20 million in Series F round

Online furniture and home products marketplace Pepperfry, which aims to turn profitable in the next financial year, is looking at one more round of funding ahead of its proposed initial public offering (IPO).

“We don’t need much money as we are earning about Rs 200 crore a month. Ideally, we need to earn Rs 1,000 crore every month. We will raise about $20 million in our Series F round ahead of the IPO. It could be our last round of funding before we go public,” said co-founder and CEO Ambareesh Murty (in picture). The seven-year-old furniture brand has raised a little over $200 million (Rs 1,300 crore). It expects to achieve a business size of $1 billion (over Rs 7,100 crore) and turn profitable by FY’21. It also aims to hit the capital markets with its maiden IPO the year after.