Online home appliances and rental service provider Rentomojo has raised $2 million in Pre-Series A funding from IDG Ventures and Accel Partners. As part of the deal, Venkatesh Peddi from IDG Ventures and Prashanth Prakash from Accel Partners will join the board of directors at the startup. The funds will be used for hiring and customer acquisition. Founded in November 2014 by Geetansh Bamania and Ajay Nain, Rentomojo offers rental services across categories such as appliances, furniture, packages, kitchen and home utility, as well as two-wheelers, while also providing combined packages on home items. The startup claims to have 2,000 subscribers at present with plans to get 6,000 subscribers by March 2016. The company also claims to be growing at 45% per month. Rentomojo doesn't own any of the stuff put up for rent, instead tying up with suppliers externally. The price range for combination packs starts from Rs 700 for a mini studio apartment and goes up to Rs 3,499 for a pack of electrical home appliances including LED HD TV, automatic washing machine, single door fridge, microwave oven solo and induction plate, per month. The furniture can be rented for a minimum of 3 months and maximum of 1 year. The startup headquartered in Bangalore currently operates in Mumbai, Pune, Delhi and Bangalore and has a team size of 50. Competition - In July, Nestaway, a Bangalore based online home rentals startup, raised $12 million from Tiger Global and Flipkart. The startup had also raised $1.25 million in March. - Online…
- MediaNama Daily: It’s not you, it’s your data January 28, 2023
- Why is Google not fully complying with India’s orders, MapmyIndia CEO asks January 27, 2023
- Unique Identification Authority of India working on age verification through e-KYC January 27, 2023
- Views: Why India’s “indigenous” smartphone operating system BharOS is overhyped January 27, 2023
- Here’s why Twitter employees’ access to its ‘God Mode’ function is a problem January 27, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...