In a strategic maneuver aimed at fortifying its presence in India’s dynamic furniture and appliances rental sector, Rentomojo has secured a substantial investment of Rs 210 crore. Led by Edelweiss Discovery Fund Series – I in the ongoing Series D and D1 round, with contributions from existing investor Chiratae Growth Fund and Magnetic, founded by Rajeev Chitrabhanu, this funding underscores a robust vote of confidence in Rentomojo’s business model and trajectory of growth. Here is a detailed report on FURNITURE DESIGN AND TECHNOLOGY (FDT).
Headquartered in Bangalore, Rentomojo has made significant inroads across 16 cities, serving approximately 450,000 customers since its inception. Beyond its digital footprint, the company strategically established offline experience centers in key Bangalore locales, demonstrating a commitment to both online and offline retail experiences. The injection of recent funds arrives at a juncture where Rentomojo has sustained profitability for the past 10 quarters, showcasing a steadfast dedication to sustainable expansion.
Image credit: Rentomojo (for representational purpose only)
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