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Rentomojo Bags Rs 210 Cr Investment to Fuel Growth in India's Furniture Rental Market

Feb 21, 2024over 1 year ago

Amount Raised

₹210 Million

Round Type

seed

BengaluruInternet Publishing

Investors

MagneticChiratae Growth FundEdelweiss Discovery Fund Series – I

Description

Rentomojo has successfully secured a significant investment of Rs 210 crore in an ongoing Series D and D1 round, led by Edelweiss Discovery Fund Series – I, with participation from existing investor Chiratae Growth Fund, alongside Magnetic, founded by Rajeev Chitrabhanu. This investment signifies a strong vote of confidence in Rentomojo's business model and growth trajectory, and it comes at a time when Rentomojo has maintained profitability for the last 10 quarters.

Company Information

Company

Rentomojo

Location

Bengaluru, Karnataka, India

About

RentoMojo was founded by IIT-M alums and serial entrepreneurs who worked out of almost every major city in India in the last five years. Frustrated with the hassles of relocating from one place to the other, and tired of finding that perfect cluster of home essentials that suited their lifestyle. RentoMojo offers asset leasing, helping you set up your home at easy and affordable rentals (RMI). We have amazingly affordable options for you to bring your relocation alive. Our hassle free approach to renting is characterized by our packages which are just a click away and delivered free of cost. We're here to change the way shopping is done because we believe in "Smart Ownership"​.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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