INDIA: Ashish Shah, the co-founder of Pepperfry, shared the sad news of Ambareesh Murty’s passing. Ambareesh Murty, a co-founder of the online furniture and home decor marketplace, passed away at the age of 51 due to a cardiac arrest while in Leh. Shah, who started Pepperfry in 2011 alongside Murty, expressed his deep sorrow and asked for prayers for Murty’s family.
Murty and Shah joined hands to establish Pepperfry in Mumbai back in 2012. Their journey began after they completed their engineering degrees at Delhi College of Engineering and IIM Calcutta. Before his involvement with the furniture and decor marketplace, Murty had gained experience working in various countries, including Malaysia, the Philippines, and India. His professional journey started as a management trainee with Cadbury India, ICICI Prudential AMC, and Levi Strauss India.
In 2003, Murty embarked on his business career with Origin Resource, focusing on financial training for mutual funds. Subsequently, he took on the role of marketing manager at Britannia. Shah joined him later, and together they co-founded Pepperfry in 2012. Entrepreneurs and investors expressed their condolences for Murty’s untimely passing on social media platform Twitter.
The unexpected demise of Ambareesh Murty, who was not only a co-founder of CashKaro but also of Pepperfry, is a loss that has left many inspired by his legacy with the furniture brand. Rajiv Srivatsa, a partner at Antler Global, expressed his concern for Murty’s well-being. The company extended its sympathies to the team and Murty’s family, offering words of comfort and courage.
Pepperfry, an online furniture retailer, has raised a total of $245.3 million since its inception. In the latest round of funding in November 2021, General Electric and Mukesh Sharma Family Trust contributed $10 million. Amidst competition from Home Centre, Urban Ladder, and Furlenco, Pepperfry’s valuation in the last funding round was approximately $460 million.
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