Who is Edelweiss Discovery?
Edelweiss Discovery is a fund under Edelweiss Mutual Fund, a leading Asset Management Company in India. The Discovery Fund Series I aims to invest in leaders of emerging sectors in mid-stage businesses. It targets companies with a revenue run-rate of 50 to 500 Crores and a growth rate of 20%+ CAGR. The fund has a positive bias towards new economy businesses and seeks to maximize returns while minimizing risk.
Rentomojo Raises $25 Million in Funding Round Led by Edelweiss Discovery
Furniture and appliance rental startup Rentomojo has raised $25 million in a funding round led by Edelweiss Discovery. This is the company’s largest funding round to date and will be used to expand its business and enter new markets. Rentomojo has been profitable for the past 10 quarters and serves close to 450,000 customers. The company competes with several other furniture and appliance rental companies, including Furlenco and Pepperfry.
In Short:
- Furniture startup Rentomojo has raised $25 million in its largest funding round to date.
- Rentomojo boasts profitability for the past 10 quarters and serves nearly 450,000 customers across India.
- This funding round, led by Edelweiss Discovery, positions Rentomojo for continued growth in the flourishing furniture rental market.