This is the second time that funds have been raised by the same investors in almost a year. The company had raised USD 15 million in February 2017 from the same investors.
In combination with the USD 15 million raised in January 2017, these funds will be used towards Urban Ladder’s omni-channel expansion, the company said in a statement.
The company also plans open over 20 new studios through a franchisee model in tier 1 and 2 towns, taking the total offline presence to over 40
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The Co-Founder and Chief Executive Officer of BigBasket Hari Menon, said the capital raised will be used to increase the shelf life of fruits and vegetables, which is a huge part of the company's business, and is directly sourced from farmers.
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The startup plans to open eight offline stores in its top cities over the next 24 months.
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Tata, who retired as the head of over USD 100-billion conglomerate in December 2012, has emerged as a major venture capital investor since his retirement. He has made investment in more than a dozen startups since his retirement.
The company will use these investments to beef up hiring, scale up operations and explore new verticals, it added.
The venture fund said it has already made investments in 30 leading Asian start-ups, including Zipdial (recently acquired by Twitter), LiveSpace, Tradegecko, CrayonData, Fastacash and travelmob (acquired by Nasdaq listed HomeAway).
Take a look at the winning entries of Crash the Pepsi IPL and watch TVC shoot of Urban Ladder.
Last week Urban Ladder, an online furniture and home dÃ©cor company was in the headlines after raising an undisclosed round of funding from Silicon Valley based tech entrepreneurs and co-founders of Junglee, Anand Rajaraman and Venky Harinarayan. Young Turks caught up with Ashish Goel and Rajiv Srivatsa to find out their future plans.
Indian e-commerce company Urban Ladder is on a funding raising spree. After having mopped up USD 50 million, Urban Ladder is betting big on technology platform, automation of supply chain and mobile platform.
Urban Ladder has raised USD 27 million from Kalaari Capital, SAIF Partners and Steadview Capital in the past three years. Besides, Tata Group Chairman Emeritus Ratan Tata had also made a personal investment in the company in November 2014, it said in a statement.
Urban Ladder said that Tata's "inputs and guidance will be very valuable" for the company, but did not disclose the amount and other details about this investment.