Online renting firm CityFurnish raises $5 million in Series A led by Youtube, Gmail

Must Read

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. https://twitter.com/ANI/status/1168037199767457792 Former Union Minister Kalraj...

CityFurnish, an online furniture and appliances renting company has raised $5 million (approx ₹40 crore) from a clutch of investors, led by Youtube and Gmail in Series A round of funding. Besides, other investment firms such as Global Founders Capital, Venture Highway, Soma Capital, SCM Advisors, and Boomerang Ventures also added their share.

The company will invest the funding on its supply side, brand building, and product expansion.

“A clutch of undisclosed high net worth individuals have also participated in this round,” said Neerav Jain, co-founder of CityFurnish.

“We’re going to focus on the supply side, brand building, and getting into newer categories. We are also going to be further investing in operations and technology, while also spending some of the proceeds on product development,” Jain added.

Founded in September 2015 by Neerav Jain and Saurabh Gupta, CityFurnish is a Delhi-NCR-based online furniture and appliances renting company.

It offers furniture, furnishings, appliances and fitness equipment, and has entered the commercial and hospitality segments as well.

The company is also in the process of launching a furniture subscription programme, which will be based on a pay-as-you-go model, with no minimum commitments.

Moreover, in 2016, the company had raised an undisclosed amount of seed funding from Brand Capital, the investment arm of conglomerate, Bennett Coleman and Co. Ltd. (Times Group).

Existing investor Manoj Gupta, Director, Credit Suisse also participated in the latest round of funding.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Pak Hindu girl death: Judge reluctant to hold judicial probe

Islamabad, Sep 23 (IANS) A district and sessions judge appeared reluctant to hold a judicial...

Number of dengue cases in Pak crosses 10,000 mark

Islamabad, Sep 23 (IANS) The number of dengue cases cases across Pakistan has crossed the 10,000 level mark, with Special Assistant to the Prime...

Rubina Dilaik is a sight to behold in THESE latest photos

Rubina Dilaik is a well known TV leading lady who is mainly known for her flawless acting and her gorgeous looks. Rubina is popular...

Hamirpur Assembly bypolls underway in UP

Hamirpur (Uttar Pradesh), Sep 23 (IANS) Bye-election voting for Hamirpur Assembly segment seat began on Monday amid tight security.According to the district returning officer...

Imran meets Khalilzad, Senator Lindsey Graham in NY

New York, Sep 23 (IANS) Pakistan Prime Minister Imran Khan, who is in New York to attend the 74th session of the UN General...
- Advertisement -

More Articles Like This