Bangalore, India – March 31, 2010: Sequoia Capital today announced that it has invested Rs 50 Crores in Stovekraft, a leading Bangalore based company manufacturing and marketing kitchen appliances and modular kitchens. With this investment, Sandeep Singhal, Managing Director, Sequoia Capital will join the board of Stovekraft and support the company in its aggressive growth plan.

Stovekraft’s flagship brands, Pigeon and Gilma, address the needs of consumers through an array of products complementing their lifestyle. While products under the Pigeon brand provide value for money, Gilma branded products are targeted at the premium segment.

Sandeep Singhal said, "Stovekraft has consistently outperformed the market and demonstrated over fifty percent compounded growth annually. We are excited to back Rajendra Gandhi and his team as they continue to build a high-quality consumer franchise.”

“Today, our flagship brands are synonymous with quality kitchenware products and the confidence reposed in us by Sequoia Capital is a testimony to our success. We have very aggressive growth plans and will continue to expand our footprint across India,” said Rajendra Gandhi, Chairman and Managing Director, Stovekraft Private Ltd.