Rentomojo, an online marketplace to rent furniture, home appliances and two-wheelers, has raised $2 million in Pre-Series-A funding from Accel Partners and IDG Ventures.
The Bengaluru-based firm will now count Venkatesh Peddi from IDG Ventures and Prashanth Prakash from Accel Partners as members of its board.
Founded by Indian Institute of Technology (IIT) -Madras graduates Geetansh Bamania and Ajay Nain, Rentomojo currently operates in Bengaluru, Mumbai, Delhi – National Capital Region and Pune.
“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 at IDG Ventures, in a statement.
Start-ups such as Airbnb and Uber have redefined traditional business models by providing on-demand access to services.
Rentomojo wants to do the same in the lifestyle space, allowing customers to rent rather than own furniture, home appliances and other kitchen and home utilities.
Image Courtesy: Your-story
