Why They Made it to The Startup50 List
For reinventing how customers buy furniture in india; for choosing customer delight over scale in the early days.
Rajiv Srivatsa, Ashish Goel
Rajiv Srivatsa and Ashish Goel founded Urban Ladder, one of India’s leading online furniture and home décor companies, with the vision of making a million Indian homes beautiful. While the company’s recognition has gone up several notches after attracting investments from Ratan Tata, it has raised four rounds of funding amounting to US $77 million from notable investors such as Kalaari Capital, SAIF Partners, Steadview Capital, Sequoia Capital, TR Capital, Ratan Tata, and Anand & Venky.
In terms of growth, Urban Ladder has grown six times y-o-y in the last three years. In the next three years, it aims to evolve into the “brand of choice” whenever a customer thinks about home furnishing and become the market leader in the space.
Within India’s entrepreneurship ecosystem, Srivatsa and Goel are known to be sound decision-makers. They managed to raise seed capital from Kalaari with an excel sheet before starting operations. They chose customer delight over scale in the first two years of operations and scaled down when service levels dropped.
As of today, the company delivers in 30 cities across India.
- Living Spaces, an app, lets users virtually place multiple life size sofas (on the UL site) in their living space by using augmented reality.
- Home Trial, a service wherein UL takes three models of sofas to customers’ homes to help overcome the touch and feel gap lacking in online shopping, especially in the sofa category.
- Staircase Climber, a battery operated machine has been engineered by the UL team to help the delivery and logistics team with material movement in the absence of lifts.