Mumbai: Urban Ladder, the furniture and home décor retailer, has raised an internal round of $12 million from a clutch of investors.

These investors are: Kalaari Capital, Saif Partners, Sequoia Capital and Steadview Capital.

The fresh round of funding, along with the $15 million raised in January 2017, will be used for omni-channel expansion, both online and offline, Urban Ladder said in a statement.

This cash dose will enable it to attain profitability in the next fiscal, the statement added.

"With a $27 million infusion over 12 months, the existing investors strongly believe that Urban Ladder's omni-channel approach and profitability push is a winning strategy to build a powerful retail brand," the company said.

At present, Urban Ladder operates two large format stores at Domlur and Whitefield and one sofa lounge at HSR Layout in Bangalore. It is set to launch its fourth store this month in the JP Nagar neighbourhood of Bangalore. The flagship Domlur store has garnered a footfall of over 3500 families a month.

Urban Ladder is also looking at other cities for its next phase of expansion. It plans to set up 15 to 20 stores across India by March 2019. This decision comes even as it has notched up a strong performance in the offline retail front.

"The past year has been phenomenal for us at Urban Ladder. Our offline expansion in Bangalore has been extremely well-received by customers for the differentiated furniture-shopping experience," Ashish Goel, CEO & co-founder of Urban Ladder, said.

"This has energised us to chart the next course of our retail journey and build India's largest furniture brand by March 2019.

"This growth has been encouraged by the introduction of the GST and the government go-ahead to 100 per cent FDI in single-brand-retail. The timing and the confluence of these initiatives will really strengthen our product innovation, category expansion, and push for profitability in 2018-19," Goel added.<"><">