RentMojo, which is a furniture rental platform that is based out of Bangalore, is now set to secure INR 27.74 crore from the Mitsui Sumitomo and Samsung Venture.
After the investment of the latest funds, Accel India will now hold 24.92 percent stake, Chiratae will hold around 15.6 percent stake, Mitsui will hold 0.99 percent stake and Samsung venture will hold 3 percent stake in the company.
The company which was founded in the year 2014 by the Geetansh Bamania. It services are active in Chennai, Pune, Mumbai, Noida, Gurgaon, Bangalore, Delhi, and Hyderabad.
The startup also offers free relocation, product swap, and maintenance facilities on the rented items.
As of now, the company provides leases for appliances, bikes, furniture, etc.
Moreover, it is now planning to expand to more cities in India. Some of the significant startups in the same domains include the Rentickle, Urban Ladder, Furlenco, and many more.