🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Sleepwell parent to acquire Kurl-On and Furlenco for Rs 2,035 crore

Economic Times

Economic Times · 2y ago

Sleepwell parent to acquire Kurl-On and Furlenco for Rs 2,035 crore

Sheela Foam has signed a deal to acquire a 35% stake in online furniture retailer Furlenco furniture for Rs 300 crore. The acquisition of a 95% stake in Kurlon Enterprises values the latter at Rs 2,150 crore. The company plans to complete the buyout by November this year. The acquisition will see Sheela Foam having a pan-India presence and diversification in the customer base.

Related News

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.

Furlenco posts Rs 140 Cr revenue in FY24, finance cost shrink 52%

Entrackr

Entrackr · 9m ago

Furlenco posts Rs 140 Cr revenue in FY24, finance cost shrink 52%

Furniture rental company Furlenco experienced a 10% decline in operating revenue in the past fiscal year, while its losses remained steady. Operating revenue dropped from Rs 155.78 crore to Rs 139.56 crore, while total revenue was Rs 151.9 crore in FY24, including earnings from interest and gains on financial assets. Furlenco reported losses of Rs 130.22 crore in the same period.

Tamil Nadu's Milky Mist files DRHP with SEBI to raise Rs 2,035 crore through IPO

IndianStartupNews

IndianStartupNews · 16d ago

Tamil Nadu's Milky Mist files DRHP with SEBI to raise Rs 2,035 crore through IPO

Milky Mist Dairy Food, a fast-growing Indian packaged food company, has filed a draft red herring prospectus with SEBI to raise Rs 2,035 crore via an IPO. The IPO includes a fresh issue of Rs 1,785 crore and a Rs 250 crore offer for sale by promoter shareholders. Funds will be used for debt reduction, capacity expansion, and distribution enhancement. Milky Mist focuses on value-added dairy products, achieving significant growth and high sector margins.

Sheela Foam eyes further investment in Furlenco as furniture rental market grows

Livemint

Livemint · 1m ago

Sheela Foam eyes further investment in Furlenco as furniture rental market grows

Sheela Foam Ltd plans to inject capital into House of Kieraya Ltd, which operates the furniture rental company Furlenco, amid its efforts to raise $10-15 million. With a presence in major Indian cities, Furlenco is part of the over $5 billion rental furniture and appliances market. Sheela Foam has already invested approximately ₹400 crore, acquiring about a 45% stake in House of Kieraya, becoming its largest shareholder.

Nykaa doubles quarterly profit, increases investment in Dot&Key and Earth Rhythm

YourStory

YourStory · 11m ago

Nykaa doubles quarterly profit, increases investment in Dot&Key and Earth Rhythm

E-commerce company Nykaa, known for its cosmetics and fashion offerings, reported a 120% increase in quarterly profit after tax. The company's parent firm, FSN E-Commerce Venture, saw a profit of Rs 14.24 crore during Q1, compared to Rs 6.45 crore in the same period last year. Nykaa also disclosed its intention to acquire an additional 39% stake in skincare brand Dot & Key Wellness Pvt. Ltd., as well as invest in Earth Rhythm Pvt. Ltd., a brand selling non-toxic and sustainable beauty products.

MapmyIndia’s Rohan Verma to step down as CEO, launch new B2C firm

YourStory

YourStory · 8m ago

MapmyIndia’s Rohan Verma to step down as CEO, launch new B2C firm

Rohan Verma, CEO of MapmyIndia, will step down and join a new B2C company in April 2025. MapmyIndia will invest Rs 35 crore and acquire a 10% stake in the new venture. Additionally, MapmyIndia will invest Rs 3 crore to acquire a 9.37% stake in SimDaaS Autonomy, a company specializing in simulation-driven development for autonomous systems. They will also invest Rs 2 crore to acquire a 19.84% stake in Kaiinos Geo Spatial Technologies, a company developing intelligent systems for GIS companies. Both acquisitions are expected to be completed by March 2025.

Samara, Convergent Finance to acquire majority stake in Agro Tech Foods from Conagra

VCCircle

VCCircle · 1y ago

Samara, Convergent Finance to acquire majority stake in Agro Tech Foods from Conagra

Private equity firms Samara Capital and Convergent Finance are set to acquire a majority stake in Agro Tech Foods Ltd (ATFL) from parent company Conagra Brands Inc. The deal will see the funds acquire nearly 52% of ATFL for Rs 650 crore ($88 million), with a potential additional investment of $44 million through a mandatory open offer. ATFL is engaged in the production and marketing of food products and edible oils, with popular brands such as ACT II popcorn and Sundrop edible oil. The transaction is expected to be completed by the end of 2024.

CCI clears Manipal Group chief Ranjan Pai, 360 One’s investment in PharmEasy

IndianStartupNews

IndianStartupNews · 1y ago

CCI clears Manipal Group chief Ranjan Pai, 360 One’s investment in PharmEasy

Manipal Education and Medical Group (MEMG) and 360 One have been given permission by the Competition Commission of India (CCI) to invest in API Holdings, the parent company of online pharmacy giant PharmEasy. MEMG is expected to invest Rs 1,000 crore for an 18% stake in the company. Ranjan Pai, a previous backer of PharmEasy, will also acquire a significant stake in the company, making him one of the largest investors with over 12% ownership. This investment is part of a larger Rs 3,500-crore rights issue aimed at repaying debt and stabilizing the company's financials.

Nirma to buy Glenmark Life Sciences for 5,651 cr

Livemint

Livemint · 1y ago

Nirma to buy Glenmark Life Sciences for 5,651 cr

Nirma Ltd has agreed to acquire a 75% stake in Glenmark Life Sciences Ltd for INR 5,651.5 crore, valuing the company at INR 7,535.4 crore. Glenmark Pharmaceuticals Ltd, the parent company, will retain a 7.84% stake in Glenmark Life Sciences. Nirma will also make a mandatory open offer to acquire an additional 17.15% stake from public shareholders. The deal is subject to regulatory and shareholder approvals. Glenmark Pharma plans to use the proceeds to reduce its debt and focus on core therapeutic areas such as dermatology, respiratory, and oncology.

Focus on asset arbitrage: Foreign promoters cashing out at lofty valuations

Money Control

Money Control · 1y ago

Focus on asset arbitrage: Foreign promoters cashing out at lofty valuations

Several foreign parent companies have been divesting from their Indian subsidiaries at higher valuations recently. Japanese parent company Sumitomo Wiring Systems sold a 4.4 percent stake in Samvardhana Motherson International for Rs 3,633 crore. Whirlpool Corporation's subsidiary sold a 24 percent stake in Whirlpool India for Rs 4,030 crore. Similarly, Fairbridge Capital, the parent company of Thomas Cook, sold an 8.5 percent stake for Rs 550 crore. These divestments suggest that Indian subsidiaries of multinational companies are trading at higher valuations compared to their foreign parents.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Download the medial app to read full posts, comements and news.