Recent college grads centered online furnishings and apparatus rental firm Rentomojo has raised Rs 10 crore from its two early patrons: Accel and Chiratae Ventures. The new tranche of the Series C3 round has come when the organization is in the market to raise a new round. As per Entrackr sources, Rentomojo is in beginning phase converses with mop up over Rs 200 crore from a few financial backers.

Rentomojo has passed an uncommon goal to distribute 1,074 Series C 3 inclination shares at an issue cost of Rs 101730.79 per offer to raise the aggregate, administrative filings show. Accel has placed in Rs 7.28 crore though Chiratae (once IDG) has put Rs 3.64 crore in the new tranche.

It’s significant that Rentomojo had commenced its Series C round in mid-2019 and as of recently it raised over Rs 100 crore across various tranches. Other than Accel and Chiratae, Samsung’s speculation arm Samsung Venture Investment and Bain Capital are its other institutional patrons.

Following the new tranche, Accel arises as the biggest partner in the organization with a 25.68% stake while Chiratae claims 21.66%. At 13.23%, Rentomjo’s prime supporter and CEO Geetansh Bamania is the third-biggest partner in the organization.

Bain Capital holds 8.5% and Samsung orders a 2.76% stake in the seven-year-old firm. As of now, representative investment opportunities (ESOPs) structure a 6.10% stake.

Private supporter Gaurav Bamania and Rentomojo’s fellow benefactor Ajay Nain own 3.48% and 2.73% separately. Pandora Trust claims 2.67% while Pratithi Trust has responsibility for. Shri Investment orders 1.41% and numerous different financial backers all things considered have 6.35% in the Bengaluru-based endeavor.

As per Fintrackr’s assessments, the organization’s valuation has expanded by 13.3% to Rs 850 crore in the new tranche. Rentomjo was esteemed at around Rs 750 crore or $100 million when it brought Rs 24.5 crore up in May 2020.

Similar to different organizations, Rentomojo had additionally confronted interruption in tasks in the progressing financial because of the pandemic. While the effect of the pandemic will be known when the organization documents FY21 monetary outcomes, it has recorded a 32.50% development in its working income in FY20.

As indicated by independent administrative filings, it has contacted Rs 143 crore in working pay in FY20. Its misfortunes has swelled 56.70% to Rs 85.54 crore in FY20 from Rs 54.6 crore in FY19. Rentojo’s absolute consumption remained at Rs 229.32 crore in the monetary consummation March 2020.