Thursday, November 26, 2015

Home Furniture And Bike Rental Platform Rentomojo Receives $2 Million From Accel Partners And IDG Ventures

Rentomojo, an India-based home furnishing serfvice, has announced that it has received a $2 million “pre-series A” investment from growth equity firm Accel Partners and IDG Ventures. As part of the deal, Venkatesh Peddi (IDG Ventures) and Prashanth Prakash (Accel Partners) will join Rentomojo’s board.

The company plans to use the funds to expand operations, hire people and boost marketing campaigns. The India-based startup said that it works similarly to an on-demand marketplace for home furniture and appliances. 

Founded in 2014 by ITT Chennai alumni Geetansh Bamannia and Ajay Nain, Rentomojo is a privately-held company that offers online rental service helping people set up their home at much easier and affordable rate. In addition to furniture, appliances (kitchen and home utility), the company also allows you to rent  two-wheelers and adventure equipments.  

With this fresh capital, Rentomojo plans to expand to six more cities over the next two quarters. Last year, the startup has raised seed capital from London-based investors.

Image credit: YourStory

No comments:

Virtualizing the Entire Data Center

Virtualizing the Entire Data Center by: VMware, The World's Leader in Virtualization and Cloud Infrastructure

VMware vSphere Essentials delivers the industry-leading virtualization platform for small businesses at an affordable price. Small businesses can virtualize their physical servers and centrally manage these servers, reducing hardware costs and increasing operating efficiency with a low upfront investment.
Provides cost-effective server consolidation and management for small offices

Learn more about the VMware vSphere Essentials