Who Led Rentomojo’s Funding Round?
The recent funding round for Rentomojo, a prominent furniture and appliance rental startup, was led by the Edelweiss Discovery Fund Series–I. This fund is known for its strategic investments in mid-stage businesses that are leaders in emerging sectors. Alongside Edelweiss, existing investors such as Chiratae Growth Fund and Magnetic also participated, demonstrating their continued faith in Rentomojo’s business model. This collective investment will undoubtedly propel Rentomojo’s growth and expansion in the rental market.
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.