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Furlenco, a furniture rental startup has raised INR 125 Cr (about $15 Mn) in a funding round from Sheela Foam Limited, with additional participation from Whiteoak and Madhu Kela.
Last month, Sheela Foam received board approval to invest up to INR 30 Cr in House of Kieraya, the parent company of Furlenco.
Furlenco will use the new funds to expand in current and new markets, improve product innovation, upgrade its technology, and enhance customer experience.
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“With a clear path to profitability and scale, this round sets us up strongly for the next coming years, as we work towards building a long-term, public-market ready business,” said Furlenco founder Ajith Mohan Karimpana.
Furlenco said it is also preparing for a possible IPO in the next few years as part of its long-term growth plan.
About Furlenco
Founded in 2012 by Mohan Karimpana, Furlenco operates a subscription-based furniture and appliance rental platform, offering over 300 products across 28 cities such as Bengaluru, Mumbai, Delhi NCR, Chennai, and Kolkata. The company also sells new furniture.
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About 70% of its revenue comes from furniture rentals, 25% from appliance rentals, and 5% from selling new furniture.
Furlenco turned profitable in FY25, reporting a net profit of INR 3.1 Cr compared to a loss of INR 130.2 Cr in FY24. Its revenue also grew 64%, rising to INR 228.7 Cr in FY25 from INR 139.6 Cr the previous year.
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