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Rentomojo Raises INR 210 Cr From Edelweiss Discovery Fund

Inc42 · 1y ago

Rentomojo Raises INR 210 Cr From Edelweiss Discovery Fund

Rentomojo, an online furniture rental startup, has raised INR 210 Cr ($25 Mn) in its Series D and D1 funding round led by Edelweiss Discovery Fund. The funds will be used to strengthen the company's balance sheet and for business expansion. Rentomojo, founded in 2014, offers consumer appliances, furniture, and furnishing products through its app and website. It operates in 16 cities and has served nearly 4.5 Lakh customers. The Indian furniture market is expected to reach $29.86 Bn by 2029.

Related News

Rentomojo raises ₹210 crore in series D & D1 round led by Edelweiss

Thehindubusinessline

Thehindubusinessline · 1y ago

Rentomojo raises ₹210 crore in series D & D1 round led by Edelweiss

Bangalore-based furnishing rental brand Rentomojo has raised INR 210 crore ($27.9m) in its Series D and D1 funding round, bringing its total financing to date to INR 525 crore. The round was led by Edelweiss Discovery Fund, with participation from existing investor Chiratae Growth Fund and Magnetic, which is led by Rajeev Chitrabhanu. Rentomojo, which offers furniture, appliances, and fitness equipment on a monthly rental basis, has served nearly 450,000 customers across 16 cities in India since its inception. The funds will be used to further develop and expand its offerings in the furniture and appliances rental market in India.

Rentomojo Pockets Funding From ValueQuest Scale Fund

Inc42 · 1y ago

Rentomojo Pockets Funding From ValueQuest Scale Fund

Bengaluru-based online furniture rental startup, Rentomojo, has raised an undisclosed amount in a Series D funding round from ValueQuest Scale Fund. The funding includes a mix of primary investment and secondary purchase for a minority stake in the company. Rentomojo plans to use the funds to expand its offline centres to other major metro cities. The company raised INR 210 Cr ($25 Mn) earlier this year in its Series D and D1 round led by Edelweiss Discovery Fund Series – I. The Indian furniture market is expected to reach $29.86 Bn by 2029.

Edelweiss leads ₹210 cr funding round in furniture rental startup Rentomojo

Livemint

Livemint · 1y ago

Edelweiss leads ₹210 cr funding round in furniture rental startup Rentomojo

Bengaluru-based furniture rental brand Rentomojo has raised ₹210 crore in a Series D & D1 funding round led by Edelweiss Discovery Fund Series – I. The funding will be used to strengthen the company's balance sheet and support business expansion. Rentomojo turned profitable in FY23, recording a profit of ₹6.2 crore compared to a loss of ₹13 crore the previous year, with revenue from operations rising to ₹121 crore. The company operates in 16 cities and has served around 450,000 customers since its founding in 2014.

Edelweiss PE fund leads $25.3-mn funding in Rentomojo

VCCircle

VCCircle · 1y ago

Edelweiss PE fund leads $25.3-mn funding in Rentomojo

Bengaluru-based furniture rental startup Rentomojo has raised $25.3 million in funding led by Edelweiss Financial Services' private equity fund Edelweiss Discovery Fund-I. Existing investors Chiratae Ventures and Magnetic also participated in the funding round. Rentomojo allows users to rent furniture, home furnishings, appliances, and bikes, and claims to have served over 450,000 customers in 16 cities. The latest funding will support the company's growth plans, according to Rentomojo CEO Geetansh Bamania. The company reported net profits of INR 6.2 crore ($0.8 million) in the last financial year.

Furniture rental startup Rentomojo raises $25 million in funding round led by Edelweiss Discovery

Economic Times

Economic Times · 1y ago

Furniture rental startup Rentomojo raises $25 million in funding round led by Edelweiss Discovery

Rentomojo, a furniture and appliance rental startup, has raised $25 million in a funding round led by Edelweiss Discovery. The capital will be used to expand its offerings in the appliances and furniture rental category. Rentomojo, founded in 2014, operates in 16 cities and has served around 450,000 customers. The company has been profitable for the past 10 quarters and aims to provide flexible housing options to working professionals. This new funding round will enable Rentomojo to further establish itself as a leader in the rental segment in India.

Rentomojo raises $25 Mn led by Edelweiss

Entrackr

Entrackr · 1y ago

Rentomojo raises $25 Mn led by Edelweiss

Rentomojo, a furnishing rental brand that provides furniture, appliances, and fitness categories on a monthly rental basis, has secured an investment of Rs 210 crore (approximately $25 million) in its ongoing Series D and D1 round. The round is led by Edelweiss Discovery Fund Series – I, with participation from existing investor Chiratae Growth Fund, as well as Magnetic, founded by Rajeev Chitrabhanu. The firm last raised Rs 145 crore as a part of Series C round in November 2021. This latest round of funding from investors serves as a launchpad, propelling the company to continue to lead the creation of the appliances and furniture rental category in India, said the company’s founder and CEO Geetansh Bamania. Headquartered in Bengaluru, Rentomojo operates in 16 cities and has served close to 450,000 customers since its inception. The company has also built relationships with most of the prominent lenders across the country to serve the increasing demands of the increasing customer. In addition to its focus on an online channel, Rentomojo has established offline experience centers across all major pin codes of Bengaluru. Rentomojo claims to have been profitable for the last 10 quarters. As per startup data intelligence platform TheKredible, Rentomojo registered a revenue of Rs 121 crore in FY23 compared to Rs 98.6 crore in FY22. During the period, the firm turned profitable with Rs 6.19 crore profit against Rs 13.5 crore loss in the previous fiscal year. It competes with Furlenco, Rentickle, Cityfurnish, and to some extent Pepperfry. In July last year, Sleepwell-parent Sheela Foam signed an agreement to acquire 35% stake in Furlenco. The deal roughly values the Bengaluru-based company at around Rs 857 crore (over $100 million). Pepperfry also raised $23 million in September last year and announced the appointment of new CEO following the demise of the company’s long-time CEO Ambareesh Murthy.

35 North Bags INR 100 Cr For Its Second AIF

Inc42 · 11m ago

35 North Bags INR 100 Cr For Its Second AIF

35North Ventures has announced that it has successfully raised INR 100 Cr for its India Discovery Fund II. The total corpus of the fund, including the greenshoe option, amounts to INR 500 Cr. The venture capital firm intends to invest in 30-40 companies and provide cheque sizes ranging from INR 5-10 Cr.

GIVA Jewellery raises Rs 255 cr in extended Series B, marks partial exit for A91 Partners, India Quotient

Business Today

Business Today · 9m ago

GIVA Jewellery raises Rs 255 cr in extended Series B, marks partial exit for A91 Partners, India Quotient

Silver jewellery brand GIVA Jewellery has secured INR 255 crore (USD 34 million) in an extended Series B funding round. Led by Premji Invest, the investment round included participation from EPIQ Capital, Edelweiss Discover Fund, and GIVA's top management. The funding will primarily be used for expanding GIVA's offline retail presence across India and strengthening its offerings in lab-grown diamonds. The round also facilitated the partial exit of earlier investors A91 Partners and India Quotient. GIVA currently has 150 retail stores and aims to establish itself in the fine jewellery sector.

Edelweiss raises second infra fund; Jindal Power drops M&A plan

VCCircle

VCCircle · 1y ago

Edelweiss raises second infra fund; Jindal Power drops M&A plan

Edelweiss Alternatives has successfully raised over Rs 8,000 crore ($1 billion) for its second infrastructure fund, Edelweiss Alternatives Infrastructure Yield Plus II. The fund received majority of its capital from domestic investors, while the remaining portion was contributed by European institutions. In related news, Jindal Power has decided to drop its plans for mergers and acquisitions.

D2C Jewellery Brand GIVA Nets INR 255 Cr To Fuel Its Offline Play

Inc42 · 9m ago

D2C jewelry brand GIVA has raised INR 255 Cr ($30.3 Mn) in an extended Series B funding round. The funds will be used to strengthen GIVA's lab-grown diamond segment, expand its gold offerings, and increase its offline presence across India. The round saw participation from investors such as Premji Invest, Epiq Capital, and Edelweiss Discover Fund. Additionally, A91 Partners and India Quotient made partial exits as part of the funding round.

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