Bengaluru-based Furlenco, an online venture for renting furniture for residential use, has secured $6 million in series A round of funding from Lightbox Ventures. The company aims to utilize the raised funds in enhancing technology and expanding product range.
Furlenco offers furniture at monthly rentals starting at Rs 1,500 for a bedroom, and living room and dining room furniture are offered at Rs 2,000. The company also provides other packages charging Rs 5,000 for furnishing a one BHK, Rs 6,000 for two BHK, and Rs 7,500 for three BHK apartments, per month.
It designs its own furniture and get it manufactured from third party vendors. Currently, the firm works with five vendors and three in house designers. Currently, it operates in Bengaluru, also plans to expand to one more city by the year end. The company having 40 members in its team and plans to extend up to 100 by December.
The other players in the online furniture space include Urban Ladder, FabFurnish, HomeLane, LivSpace, Pepperfry, CustomFurnish etc.
While there are multiple companies dealing in furniture online, Furlenco’s model might hit right for the people who move often. And a combination of this startup with one dealing with home rentals, could come as a respite to many independent professionals in the country.Category Ecommerce Investments News