Viestories Startup News’ Post

RentoMojo, a Bengaluru-based startup offering furniture, appliances, and fitness equipment on a monthly rental basis, raises Rs 210 crore in its Series D funding round. ➡ Edelweiss' Discovery Fund Series–I and Chiratae Growth Fund spearhead the funding, signifying confidence in RentoMojo's market position and growth potential ➡ RentoMojo highlights sustained profitability for the last 10 quarters, showcasing the robust financial performance of the company ➡ The startup has expanded its services to 16 cities, catering to a diverse customer base of nearly 4.5 lakh users ➡ The funding is positioned as a strategic move, serving as a launchpad for RentoMojo to further dominate the appliances and furniture rental category in the Indian market ➡ RentoMojo emphasizes strong ties with prominent lenders nationwide, ensuring financial stability to meet escalating customer demands. ➡ Ashish Agarwal, Managing Partner of Edelweiss Discovery Fund, expresses optimism in the growth potential of the rental category and RentoMojo's leadership team, foreseeing continued profitable expansion in the segment #startup #thegamechangers #growthstory

Wedding services startup Meragi raises $9.1M in funding “We are also expanding deeper into newer categories, like venues and catering. We’re going to spend our money on building more advanced tools,” cofounder and chief executive Abhinav Chandran said. #Meragi #WeddingServices #Accel #StartupFunding #WeddingPlanning #EventManagement #FintechNews #StartupGrowth #VentureCapital #ExpansionPlans #PeakXVPartners #VentureHighway #BengaluruStartups #WeddingIndustry #TechInEvents #InvestmentRound #wedtech #ExperienceCenters #WeddingTech #CapitalInvestment #Keralanews #Kerala #BusinessReviewLive #BRL #Keralabusiness

Furniture rental startup RentoMojo bags $25mn in funding Geetansh Bamania, the CEO of Rentomojo, stated that the recent funding round acts as a launchpad for the company to further develop the appliances and furniture rental category in India. #Rentomojo #FundingNews #StartupIndia #FurnitureRental #ApplianceRental #StartupNews ##EdelweissDiscovery #IndianStartups #BusinessNews #IndiaNews #Keralanews #Kerala #BusinessReviewLive #BRL #Keralabusiness

𝐓𝐡𝐞𝐬𝐞 𝐭𝐰𝐨 𝐈𝐈𝐓𝐢𝐚𝐧𝐬 𝐭𝐮𝐫𝐧𝐞𝐝 𝐚 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐩𝐫𝐨𝐛𝐥𝐞𝐦 𝐢𝐧𝐭𝐨 𝐚 𝐛𝐢𝐥𝐥𝐢𝐨𝐧-𝐝𝐨𝐥𝐥𝐚𝐫 𝐬𝐭𝐚𝐫𝐭𝐮𝐩. While buying their first house, Anuj Srivastava and Ramakant Sharma realized that India's home interior market was fragmented. Talking to multiple suppliers and designers was very frustrating, so they decided to solve this problem. Founded in 2016, Livspace's initial plan was to aggregate home designers and suppliers on a single platform. However, this was not enough. With the help of Jungle Ventures, one of their earliest investors, they approached the problem from a customer's first experience. Customers don't want to talk to multiple vendors; they want a one-stop solution. That's when Livspace decided to build a full-stack platform for everything around home interiors. Today, Livspace is a unicorn and is present in multiple countries, thanks to the deep connections and network of their early investors. #startup #enterpreneur #unicorn #bussiness #problemsolving #opportunity

An exciting update: Prath Ventures led a $2.1 million investment in Assembly, an emerging leader in the lifestyle travel category. This marks the third investment from our debut fund. We believe Indian consumption is just starting to inflect and are excited about the innovation happening in new age consumer brands across categories. Travel is a space we are especially excited about and identified Assembly as a potential leader. Founded in 2019 by Aditya Khanna and Mohit Garg, Assembly offers premium luggage, backpacks, and travel gear tailored for today's traveler. With a keen eye on design and customer needs, Assembly has built a loyal fan base, and is gaining quick traction. Assembly's strong supply chain and design know-how make it a perfect fit for capitalizing on the tailwinds in the travel luggage space. This investment will fuel Assembly's growth across the board: expanding their product range, boosting marketing efforts, and strengthening their team. We are excited and look forward to a long and fruitful partnership with Assembly. Harmanpreet Singh Piyush Goenka Harsh Kapadia Saptarishi Sen Anuvrat Pandey  #PrathVentures #Investment #Startup #Travel #Lifestyle #Assembly #Innovation #Entrepreneurship https://lnkd.in/gtDMHDza

These two IITNs turned a personal problem into a billion dollar startup. While buying their first house, Anuj S and Ramakant Sharma realized that India's home interior market was fragmented. Talking to multiple suppliers and designers was very frustrating, and so they decided to solve this problem. Founded in 2016, Livspace's initial plan was just to aggregate home designers and suppliers on a single platform, But this was not enough. And with the help of Jungle Ventures, who was one of their earliest investors, they approached the problem from a customer first experience. See, customers don't want to talk to multiple vendors. They want a one -stop solution. And that's when Livspace decided to build a full -stack platform for everything around home interiors. Today, Livspace is a unicorn and present in multiple countries, thanks to deep connections and network of their early investors. #themarketzone #Muskankalra #unicorns #startup #livspace

Challenges and Transformations in Co-living: A Year in Review Co-living startups faced significant challenges in 2023, with 41 out of 116 firms closing their doors. VC funding witnessed an 85% YoY decline for two consecutive years, reaching $6 million in 2023, down from $21.7 million in 2022 and $148 million in 2021. Even the sector’s top player, Stanza Living, valued around $470-500 million, is encountering difficulties, having dues towards vendors and tenants. Despite the struggles, some startups, like GetSetHome, secured small early rounds. However, others, including Nestaway, faced substantial valuation drops. Amid the setbacks, some co-living ventures explore niche areas like nomad, rural, and luxury co-living to differentiate themselves. One such example is Beach House Project (BHX), an invite-only residency for founders and creators. Similarly, Nomadgao caters to the global digital nomad community, operating spaces in Goa and planning expansion to Lonavala in the coming year. In contrast, Jaytirth Ahya, founder of BHX, consciously avoids external VC funding, emphasizing the importance of building a purpose-driven community at a sustainable pace. The co-living industry is adapting to survive, with businesses experimenting with new models, such as revenue-sharing arrangements and hybrid fixed rentals. Some companies, like Zolostays and Zostel, are exploring premium offerings and expanding internationally. The shift towards profitability over scale is evident, reflecting a maturing market focusing on diverse and focused communities. #CoLiving #VentureCapital #Startups #BusinessTransformation #realestate #vc #entrepreneurship

🛄 Travel and Lifestyle Startup Assembly Secures $2.1 Million in Funding Round. 📈 Funding Details: New Delhi-based travel and lifestyle startup Assembly has raised $2.1 Mn in a recent funding round led by Prath Ventures. Other participants include Anicut Capital, Blume Founders Fund, and several angel investors. The capital infusion will facilitate team expansion, product range enhancement, and intensified marketing and branding efforts. 🌍 About Assembly: Founded in 2019 by Aditya Khanna and Mohit Garg, Assembly specializes in mass-premium luggage, backpacks, and travel accessories designed for modern travelers. The startup aims to broaden its product portfolio and extend its reach to a wider audience of travelers. 🚀 Prath Ventures' Strategy: Prath Ventures, formed in May 2022 by Piyush Goenka and Harmanpreet Singh, focuses on supporting early-stage consumer businesses. With a vision to invest in around 15 startups, Prath Ventures aims to foster growth and innovation within the consumer sector. 🎒 Strategic Outlook: Saptarishi Sen, vice president at Prath Ventures, expressed confidence in Assembly's capabilities, citing its robust supply chain and design aesthetics. The partnership with Assembly is envisioned to establish a new-age challenger brand in the luggage domain, capturing evolving consumer trends. 💼 Investment Portfolio: This funding marks Prath Ventures' third investment from its debut fund, following a recent second close at INR 225 Cr. Previously, the fund invested in D2C F&B startup Jimmy’s Cocktails, showcasing its commitment to nurturing promising ventures in the consumer space. 🌟 Future Prospects: Assembly's participation in Shark Tank Season 3 underscores its ambition to emerge as India's leading and thoughtful travel store. With a vision for growth and innovation, Assembly aims to solidify its position in the market over the next 2 to 5 years. Assembly #Assembly #PrathVentures #TravelStartup #LifestyleBrand #FundingRound #ConsumerSector #StartupInvestment #BusinessGrowth #Microshots #BusinessNews #StartupNews #Newsupdates

UK-based private equity firm BNP FinNest Group has acquired a majority stake in the cloud kitchen startup kitchens@ - Loyal Hospitality Pvt. Ltd through an investment of INR 1,335 crore ($160 million). Documents filed with the Registrar of Companies (RoC) reveal that the startup issued 40 lakh equity shares to the PE firm at INR 3,000 per share, amounting to INR 1,200 crore ($145 million). Additionally, Kitchens@ issued 4.5 lakh Series C compulsorily convertible preference shares (CCPS) worth INR 135 crore ($16.1 million) to Finnest. As a result, Kitchens@ is now a subsidiary of Finnest, with the investment firm holding a 53.75% stake in the cloud kitchen startup. The new funding will be used to support the startup’s operational growth, meet working capital needs, and expand its market presence. According to an Economic Times report, the startup secured funding at a post-money valuation of $305 million. The report also highlighted that this latest fundraising round included Finnest’s $65 million investment in the startup in December last year. In December, Finnest injected capital into Kitchens@ during its Series C round. At that time, the startup indicated that the funds were raised to expand its hybrid model, Dinerium. Established in 2018 by Junaiz Kizhakkayil, Kitchens@ assists brands with setting up kitchens, managing hiring and training, developing their brand, and facilitating online delivery services. Currently, Kitchens@ operates 700 cloud kitchens across six major cities, including Delhi, Bengaluru, Hyderabad, and Chennai. It initially launched with seed funding from Zomato and subsequently repurchased those shares from the foodtech giant in late 2019. In addition to Finnest, Kitchens@ is backed by investors like BEENEXT and DG Ventures. The startup collaborates with leading names in the Indian quick service restaurant (QSR) industry, including Domino’s, Subway, Taco Bell, Nando’s, and Barbeque Nation. In FY23, Kitchens@ reduced its net loss to INR 18.61 crore from INR 37.24 crore the previous year. Meanwhile, its operating revenue surged approximately 67% year-on-year to INR 62 crore. #Kitchens@ #FinNest #MajorityStake #Acquisition #Investment #FundingRaised #CloudKitchen #FoodTech #QSR #OperationalGrowth #MarketExpansion #BusinessGrowth #BEENEXT #DGVentures #VentureCapital #FoodIndustry #AllBoutCorps

Fireside Ventures led a #seed financing round for the Gen Z-focused fashion brand Newme that totaled INR 45 crore (roughly $5.4 million). AUM Ventures, 2AM Ventures, and Allin Capital also participated in the round. Newme is an enterprise that embraces variety and uniqueness, allowing Generation Z members to express themselves through the most recent fashion #trends available to everyone at a reasonable price. With three #stores in Bengaluru and Mumbai, as well as a separate online platform and mobile app, Newme established an omnichannel footprint. Within the year 2022, Sumit Jasoria, Shivam Tripathi, Vinod Naik, and Himanshu Chaudhary established Newme. This fashion firm operates in real-time and caters to the needs of Generation Z in India and South East Asia. NEWME Fireside Ventures Sumit Jasoria Shivam Tripathi Vinod Naik Himanshu Chaudhary AUM Ventures 2am VC All In Capital Read more - https://lnkd.in/guZyJgmB To share your startup story write us on - startup@viestories.com #newme #fashionbrand #startup #funding