Business

Why Pidilite invested in Pepperfry

Occasionally, amid the relentless announcements of X company raises Y million dollars, there will be one that flies under the radar but shouldn’t.

A month ago, online furniture seller Pepperfry raised $40 million in a Series F funding round. The ups and downs of India’s furniture and home decor startups—as they realized that selling beds and sofas online is not quite the same as selling smartphones and books—make for an interesting story in and of itself. But what stood out about Pepperfry’s fundraise, decidedly modest by the standards of tech startups today, is that the lead investor was not your usual venture capital or private equity fund, but Pidilite Industries, best known as India’s biggest maker of adhesives.

Why?

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