Pidilite leads $40m round in Pepperfry

Pidilite Industries, the makers of popular homegrown adhesive brand Fevicol, has led a $40 million funding round in online furniture retailer Pepperfry, as it looks to make strategic bets in new-age companies to complement its core product offering.

In December, Pidilite co-invested $30 million in online interior design company Home Lane.

Globally and in India, companies such as Pidilite are betting on startups to access newer customers, products, markets, technologies and trends.

Coca Cola, Unilever, Danone, Godrej Consumer and Marico have made such long-term and typically strategic investments.