Furlenco Bags Rs 125 Crore to Expand Portfolio, Scale Omnichannel Growth
- Furlenco raises Rs 125 crore in new funding led by Sheela Foam
- Funds to expand product range and strengthen omnichannel operations
- Company prepares for IPO after returning to profitability in FY25
Furlenco, the subscription-based furniture rental startup, has secured Rs 125 crore ($15 million) in fresh funding from Sheela Foam Limited, with participation from Whiteoak and investor Madhu Kela. This is Sheela Foam’s first investment in the company since acquiring a 35% stake in July 2023 for Rs 300 crore.
The company said the new capital will support its plan to broaden its product portfolio, scale omnichannel distribution, and strengthen operations as it gears up for public-market readiness. Furlenco is also working toward a potential IPO in the coming years as part of its long-term roadmap.
Founded in 2012, Furlenco offers subscription-based, rental, purchase, and refurbished furniture solutions. Over the years, it has raised multiple equity and debt rounds from investors such as Sheela Foam, Lightbox Ventures, Crescent Ventures, and Eagles. The company claims more than 1.5 lakh active subscribers and says it has furnished over 10 lakh homes across India.
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According to a startup data platform, Furlenco has raised a total of $313 million so far. Ajith Mohan Karimpana, Founder and CEO of Furlenco, currently holds a 12% stake in the company.
Furlenco turned profitable in FY25, marking a major turnaround. It reported Rs 240 crore in revenue and Rs 3 crore in profit for FY25, compared to a loss of Rs 139 crore in FY24. The company attributes this shift to its subscription model and disciplined capital allocation.
