NEW DELHI: Online furniture store Pepperfry on Tuesday elevated its co-founder Ashish Shah to the position of Chief Executive Officer (CEO), as its co-founder-CEO Ambareesh Murthy passed away at age 51 due to cardiac arrest last month.

The company also secured $23 million in funding from existing shareholders, including institutional investors and family offices, underscoring their confidence in the company’s vision and strategic plans for the future. As the COO of the company, Shah played a pivotal role in shaping Pepperfry’s customer-centric strategy, supply side strengths, and operational excellence.

The latest round of capital infusion will strengthen Pepperfry’s ability to cater to the evolving needs of its over 10 million and increasing customer base through a strong omnichannel presence, a robust supply chain, and tech-driven innovation.