Pepperfry Elevates Co-Founder Ashish Shah to CEO Role, Secures $23 Million in Funding
- ByStartupStory | September 5, 2023
Pepperfry, a prominent e-commerce platform specializing in furniture and home goods in India, has appointed co-founder Ashish Shah as its Chief Executive Officer (CEO). With over two decades of experience in the Indian e-commerce industry, Ashish takes on this leadership role after serving as the company’s Chief Operating Officer (COO). In his previous role, he was responsible for overseeing operations, category management, product, and omnichannel business, contributing significantly to Pepperfry’s customer-centric approach and operational excellence.
This appointment follows the unfortunate passing of Ambareesh Murty, Pepperfry’s co-founder and former CEO, who played a pivotal role in transforming the Indian online furniture and home goods shopping landscape. Under Ambareesh’s guidance, Pepperfry became known for offering quality, affordability, and convenience, revolutionizing the way Indians shop for furniture.
Ashish Shah, the new CEO of Pepperfry, expressed his commitment to the company’s mission, “Pepperfry remains steadfast in its mission to offer a diverse range of well-designed products to help customers create inspiring and functional living spaces. Pepperfry has always been committed to enhancing the way people create homes, and I am honored to lead this incredible team of dedicated individuals who share this passion. The best tribute to Ambareesh will be to build upon the foundation we laid and strengthen Pepperfry’s position as India’s leading furniture and home products company,”
Pepperfry has made significant strides toward sustained profitability in recent months, and this milestone is now within reach. The company has secured $23 million in funding from existing investors, including institutional investors and family offices, underlining their confidence in Pepperfry’s vision and strategic plans.
This additional capital infusion will further enhance Pepperfry’s ability to cater to its expanding customer base, which now exceeds 10 million, by leveraging omnichannel capabilities, a resilient supply chain, and technology-driven innovation. Under Ashish Shah’s leadership, Pepperfry will continue offering a wide range of products and capitalize on its network of 190+ Studios across 100+ cities.
Pankaj Makkar, Managing Director of Bertelsmann India Investments, an early supporter of Pepperfry, expressed confidence in Ashish Shah’s leadership and the company’s promising future.
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