Rentomojo Bags Rs 210 Cr Investment to Fuel Growth in India's Furniture Rental Market
Feb 21, 2024•over 1 year ago
Amount Raised
₹210 Million
Round Type
seed
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.
Funding Insights
Based on industry dataVC-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