Urban Ladder co-founder Rajiv Srivatsa has resigned after eight years of association with the start-up he co-founded with his B-school batchmate Ashish Goel. Its investors include Ratan Tata, Steadview Capital, SAIF Partners, Kalaari Capital and Sequoia Capital India. [7], Urban Ladder, raised an internal round of $12 million from investors Kalaari Capital, Saif Partners, Sequoia Capital, and Steadview Capital in February 2018. Srivatsa was a senior product manager at Yahoo prior to starting Urban Ladder. The duo raised about $105 million in risk capital, however, Urban Ladder didn’t continue to put up a competing show against Pepperfry, Amazon-Flipkart, and Ikea. Rajiv Srivatsa, co-founder of omnichannel furniture retailer Urban Ladder, is quitting the firm at the end of this month. Urban Ladder is one of the significantly funded players in the furniture retailing space having raised nearly $110 million through a mix of equity and debt. The furniture exchange offer is provided by Urban Ladder’s partners Zefo and Quikr. Jai Vardhan. The company later raised another $US5 million in a Series A round led by SAIF Partners; Kalaari Capital too participated in the Series A funding. Its most recent funding round took place last September when it raised $5.06 million from venture debt firm Trifecta Capital, six months after the furniture etailer had raised $11.83 million from existing investors. Ashish Goel previously worked with McKinsey & Company and served as the CEO of Amar Chitra Katha. The move to ramp up its offline presence was in keeping with a wider perception that omnichannel might be the way forward for vertical e-commerce players in the furniture retailing space. Urban Ladder’s co-founder Rajiv Srivatsa resigns; Vani Kola quits board. The company delivers and installs all the products it offers. Ashish Goel and Rajiv Srivatsa – Urban Ladder Founders, after graduating from IIT & IIM, and working many years with corporations like Mckinsey & Co. and Yahoo respectively, desperately wanted to start something of their own. Rajiv Srivatsa previously worked with Cognizant and Yahoo! [4] The company subsequently raised $US21 million in Series B round of funding led by Steadview Capital, SAIF Partners and Kalaari Capital [5] Four months after the company raised Series B funding from Steadview Capital and existing investors SAIF Partners and Kalaari Capital, Urban Ladder received a personal investment from Ratan Tata, Tata Sons. Urban Ladder co-founder Rajiv Srivatsa calls it a day, steps down from leadership role. Srivasta joined Singapore-based early-stage venture capital and private equity firm Antler as head of India and local partner. Binu Paul 21 Oct, 2019 Rajiv Srivatsa, co-founder of omnichannel furniture retailer Urban Ladder, is quitting the firm at the end of this month. The move was geared towards Urban Ladder’s goal of achieving profitability between April and June and staying the course before launching an initial public offering (IPO) in 2021, he had said. Srivatsa founded the company with Ashish Goel in 2012 and grew it to become one of the prominent online furniture stores in India. Rajiv Srivatsa previously worked with Cognizant and Yahoo! Pink slips had been handed out across levels, functions and geographies, Goel had confirmed the development to TechCircle. Urban Ladder Home Decor Solutions was co-founded by Ashish Goel (CEO) and Rajiv Srivatsa in July 2012. Urban Ladder is an omnichannel furniture and decor retailer based out of Bangalore, India. Existing investors Steadview Capital, SAIF Partners and Kalaari Capital were also participants. The old furniture will be picked up, and the new piece delivered to the customer at no additional cost. [6], On 9 April 2015, Urban Ladder announced that they had raised $US50 million in funding led by Sequoia Capital and TR Capital. With a $27 million infusion over 12 months, Urban Ladder's omnichannel approach and profitability push will help it build a powerful retail brand. Urban Ladder Home Decor Solutions was co-founded by Ashish Goel (CEO) and Rajiv Srivatsa in July 2012. In combination with the $15 million raised in January 2017, these funds were used to further Urban Ladder’s omnichannel expansion, online and offline - a decisive step towards profitability in FY 18-19. [1], Urban Ladder is a design-led, omnichannel brand which offers furniture and home decor. “I will transition out of my active leadership role as CTPO at UL at the end of this month. before co-founding Urban Ladder. [13][14], Apart from its in-house collections and consultations, Urban Ladder works with external designers. October 22, 2019. The Urban Ladder Design Network provides external designers with 3D rendered models of its products. [9], Urban Ladder is continually creating and launching new collections like the Malabar, [10] the Eleanor & Louise, [11] and the Fujiwara range, [12], Urban Ladder launched design consultation as a service in 2016. [8], Urban Ladder has both online and offline business model for distribution. [2], Rajiv Srivatsa, one of the founders of Urban Ladder, quit the company in October, 2019 after seven years with the company. Urban Ladder offers more than 5,000 furniture designs under a dozen broad categories including living, bedroom, dining room, storage, study and decor. ", "Urban Ladder launches '[http://theurbaninterior.co Urban Interiors]', a complete Interior Décor Service", Urban Ladder Launches 'Urban Interiors', a Complete Interior Décor Service, "Top Entrepreneurs in Business & Iconic Stars in Cinema shined at India Leadership Conclave 2016 's ILC Power Brand Awards 2016", https://en.wikipedia.org/w/index.php?title=Urban_Ladder&oldid=988813405, Articles with topics of unclear notability from July 2016, All articles with topics of unclear notability, Web articles with topics of unclear notability, Articles with a promotional tone from April 2018, Articles with multiple maintenance issues, Creative Commons Attribution-ShareAlike License, Furniture, Decor, Soft Furnishings, Mattresses, This page was last edited on 15 November 2020, at 11:44. before co-founding Urban Ladder. They were searching for … It’s worth noting that one of Urban Ladder’s co-founder Rajiv Srivasta had left the firm last year. Total expenditure declined by more than half to Rs 232.73 crore in 2017-18 from Rs 508.58 crore in 2016-17 amid a focus on reducing cash burn and offline expansion. DFI and AWS roll out Adopt Drones Program, Meet the 17 startups from fourth cohort of DNA NXT by Bosch India, WhiteHat Jr vs Pradeep Poonia: A timeline of events leading to the defamation case, Exclusive: Multi-brand electric two wheeler leasing platform Welectric raises angel funding, Mindtree to help Nordex Group modernise, scale IT infrastructure. The capital shortage also reflected on the growth and operations of Urban Ladder. [16] Ashish Goel was voted by the Network 7 Media Group Jury as "Game Changer Entrepreneur of the year" 2016 at Satya Brahma founded 8th edition of India Leadership Conclave 2016. Currently, Urban Ladder has over 600 design firms working with them as part of The Urban Ladder Design Network, with the tribe increasing every month.[15]. 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