PE Fund Investments
Furniture rental platform Rentomojo raises $25-M led by Edelweiss
Rentomojo , a Bengaluru-headquartered brand that provides furniture, appliances, and fitness categories on a monthly rental basis, has raised INR 210 crore (about USD 25 million) in its ongoing Series D round. The round is led by Edelweiss Discovery Fund Series – I, with participation from existing investor Chiratae Ventures (via Chiratae Growth Fund, as well as Magnetic, founded by Rajeev Chitrabhanu. The deal values the company at around INR 857 crore (over USD 100 million).The firm last raised INR 145 crore as a part of Series C round in November 2021.Rentomojo operates in 16 cities and claims to have served close to 450,000 customers since inception. In addition to its focus on an online channel, Rentomojo has established offline experience centres across major pin codes of Bengaluru.Rentomojo registered a revenue of INR 121 crore in FY23 compared to INR 98.6 crore in FY22. The firm claims to have been profitable for the last 10 quarters.
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