Ratan Tata, Chairman Emeritus, Tata Sons, who has been actively investing in e-commerce companies for some time now, has made yet another personal investment: this time in online furniture company Urban Ladder.
This is Ratan Tata’s third investment in the e-commerce space after investing in online retailer Snapdeal in August and online jewellery store, Bluestone. Urban Ladder did not disclose the amount Tata has invested.
Other investorsThe investment comes four months after the company raised Series B funding from Steadview Capital and existing investors SAIF Partners and Kalaari Capital.
It has so far raised $27 million from these investors. The total furniture market in India is worth around $15 billion. It is expected to grow 20-30 per cent annually. The home décor and furniture space in not new to Ratan Tata, a design enthusiast who holds a degree in Architecture from Cornell University.
“Tata understands the furniture space very well, specially our focus on product design since he has a lot of knowledge of the subject. His inputs and guidance will be very valuable for us,” said Ashish Goel, CEO and Co-founder, Urban Ladder.
Goel was earlier COO of Amar Chitra Katha and a partner with management consultancy firm McKinsey.
Tata’s decision to invest in Urban Ladder marks a milestone in the company’s two-and-a-half-year journey, a statement from the company said.
Urban Ladder was launched in July 2012 by Goel and Rajiv Srivatsa and offers over 1,000 products across 25 categories such as wardrobes, beds, sofas, dining tables and coffee tables.
The company expects to be a ₹250-300 crore company during the current fiscal.