Furniture Rental Firm Furlenco Raises USD 15 Mn Funding The new funds will also help it prepare for long term public market ambitions by improving distribution reach and boosting operational efficiency.
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Furlenco, the Bengaluru-based subscription furniture rental firm, has secured INR 125 crore (USD 15 million) in fresh funding from Sheela Foam Limited along with participation from Whiteoak and investor Madhu Kela.
This is the first time Sheela Foam has infused new capital into the company after purchasing a 35 percent stake in July 2023 through an INR 300 crore transaction.
The latest investment is expected to support Furlenco's efforts to widen its product range and strengthen its omnichannel presence across major cities.
The company said the new funds will also help it prepare for long term public market ambitions by improving distribution reach and boosting operational efficiency.
Furlenco, founded by Ajith Mohan Karimpana in 2012, operates on a subscription focused model that offers furniture and appliances on monthly or annual plans. Its services include free maintenance, deep cleaning, relocation support and product swapping, positioned as a convenient alternative to traditional ownership. Customers can also choose refurbished and purchase options.
The company has raised capital from several investors over the years, including Sheela Foam, Lightbox Ventures, Crescent Ventures and Eagles.
Furlenco claims to serve more than 1.5 lakh active subscribers and has furnished over 10 lakh homes across India since its inception.
Data from startup intelligence platform TheKredible shows the firm has raised a total of USD 313 million so far, with founder and chief executive Ajith Mohan Karimpana holding a 12 percent stake after the latest round.
Furlenco's Indian competitors include Rentomojo, Cityfurnish, Pepperfry Rentals and Rentickle.
