State Street Global Advisors (SSGA) has invested Rs 250 crore in online furniture player Pepperfry, the company announced on Wednesday.
The current funding round is being seen as a precursor to the planned IPO of the Mumbai-based company.
It is the asset management business of financial services company State Street Corporation, which is listed on the New York Stock Exchange.
Pepperfry has raised over Rs 1,200 crore of capital since it began operations six years ago. The company claims this to be the highest amount of capital raised by an e-commerce furniture and home products company in India.