Deals: Indian online renting platform RentSher gets $300,000 seed from a group of angels
The Economic Times: RentSher – set up by IIT Delhi and Oxford University alumni – is a marketplace for rental products has raised more than $300,000 in seed funding, according to a top executive of the company.
The funding round was led by Dubai-based ex-McKinsey investor Vaibhav Doshi along with Abhay Singhal, co-founder of InMobi, Vibhu Garg, co-founder and COO of Unicommerce, Joby Babu, COO at Nimbuzz, Abhishek Acharya, general manager at Philips India, and Manish Shah of Wipro, UK.
RentSher – set up by IIT Delhi and Oxford University alumni including Abhijit Shaha, Harsh Dhand and Karandeep S Vohra -is a marketplace for rental products. It is operational in Bangalore and Delhi.
The funds will be used in equal parts for product development, fulfilment and growth. “We will strengthen the platform and build some of the industry defining features such as geo-tagging and supply chain automation,” said Shaha, president of product and strategy at RentSher.
According to a company press release, RentSher claims to have a wide customer base – from parents wanting to book a costume for a school function to people wanting to host cultural events at home to corporates planning multi-day large events.
By Prachi Verma for The Economic Times