Skip to main content

Rentomojo Raises $2 million in Pre Series A

Rentomojo, Furnishing Solutions platform, headquartered in Bengaluru raised $2 million in Pre-Series A from Accel Partners and IDG Ventures India. Venkatesh Peddi from IDG Ventures India and Prashanth Prakash from Accel Partners join the board of Directors.

Rentomojo was founded in November 2014 by IIT Madras graduates Geetansh Bamania and Ajay Nain. The company had raised seed capital from London-based investors last year. Currently they operate in four cities: Bengaluru, Mumbai, Delhi NCR and Pune. Categories on the platform include Appliances, Furniture, Packages, Kitchen and Home utility, as well as two wheelers.

Speaking on the occasion, Geetansh Bamania, Co-founder and CEO, Rentomojo said, “With urbanization, increasing incomes and declining savings among the working professionals, we are witnessing the birth of Access Economy with the advent of Airbnb, Uber, Rentherunway and the likes. We want our users to get an access to a personalized lifestyle without actually owning it. We work as a marketplace and keep this business asset light.”

“We are delighted to have Accel Partners and IDG Ventures India as our partners in our mission to provide convenient and affordable solutions. The funds will fuel our expansion across the country.”

“Rentomojo has a grand vision. Both Geetansh and Ajay have demonstrated excellent execution focus and passion to build out a strong technology platform. Their platform is witnessing exponential growth and it is exciting to be part of this growth” said Venkatesh Peddi, Executive Director, IDG Ventures India Advisors.

“This is an India innovation, led by young entrepreneurs, built on the philosophy of experience without owning. We are confident that there is an incumbent market for the business, which would help accelerate the business,” said Prashant Prakash, Accel Partners.

Headquartered out of Bangalore, the company employs over 50 people.

Popular posts from this blog

Cloud Computing powering India’s priority of ‘Digital-first country’

By: Sunil Mahale, India MD and VP, Nutanix
Digital transformation has been recognized as being vital to the growth of our nation. This transformation has enjoyed the unanimous approval and contribution from all stake holders including enterprises, MSMEs, government bodies and citizens. But this level of adoption in a country with a population of over a billion people would need a robust technology base that is capable to collecting and distributing vital data seamlessly.
Digital India envisions creating high speed digital highways, that will impact commerce and create a digital footprint for every individual. Technologies based on mobility, analytics, Internet of things and most importantly, cloud technologies are the building blocks for the digital India missionThere is a growing need to manage huge volumes of data, and making them readily available to public through digital cloud services. Cloud has a pivotal role in enabling this change.
While Data centers have become crucial to th…

Semalt Expert Tells The Reasons Qualitative SEO Services Are Not Cheap

Just like the internet, Search Engine Optimization is constantly changing. Also, it's becoming more difficult to perform a good SEO as soon as Google is continuously improving the algorithm of ranking websites. SEO becomes more complicated so you should expect to pay more for hiring SEO specialists or agencies.
The leading Customer Success Manager of Semalt, Igor Gamanenko explains what factors force SEO services cost increase.
SEO Expertise
SEO has been undergoing the crucial changes and updates over the last 10 years. In the early days of SEO, Google only was caring about the technical aspect of your website, links and keyword metadata to rate you higher. The rating guidelines were quite easy: all you had to do was using some keywords in your metadata and more links than your competitors. This was enough to give you a higher ranking in search engines.
Today, the game has completely changed. Through semantics, Google has a better understanding of internet searches, so it can judg…

RevStart launches its RevItUp Incubation Programme

Underlining its vision of creating a nurturing ecosystem for start-ups to grow in, RevStart, a co-working and incubation centre, has announced the launch of its RevItUp Incubation Programme. The 12-week long programme will be held at RevStart Incubation Centre in Noida from July 1, 2018 onwards. As part of the programme, RevStart will select five high potential start-ups from the ed-tech sector, AI, Consumer Internet, Sustainability, as well as for-profit social impact companies to assist them with developing their business, along with connecting them to global mentors across industries and sectors. In addition, start-ups selected for the programme will receive INR 5 lakh to Rs. 25 lakhs worth of cash and benefits, while RevStart will get an equity stake in the ventures.
The RevItUp Incubation Programme has been created to enhance the founding team’s industry, product, and company building knowledge and capabilities through a world-class curriculum. The programme will focus on tailor…