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Gurgaon-based Magneto Home Pvt Ltd owned CityFurnish, an on-demand furniture rental platform, has raised an undisclosed amount of seed round funding from Jitendra Gupta, co-founder at Citrus Pay.
CityFurnish’s idea was conceptualised by Neerav Jain in August, 2015 but was launched in late September. The startup offers furniture, furnishings and appliances on rent. It has tied-up with third-party providers through a marketplace model besides keeping inventory on its books.
Currently, the startup is offering its services in Gurgaon and Delhi-NCR region. The company has already furnished 175 properties and is looking to furnish 200 more by January, 2016. Besides, the company is also looking to expand its arm to Bangalore market soon.
The raised funds will be utilised to strengthen CityFurnish’s core team, improve product management and order fulfilment.
CityFurnish has also launched a great offer for startups and early stage businesses, offering 3 months free furniture on subscription of 12 months plan.
Other players who raised funding in this space include, online home appliances & furniture rental startup, RentoMojo – raised $1.96 Mn from IDG Ventures India and Accel Partners India; and Furlenco – raised $6 Mn in a Series A funding round led by LightBox VC.
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