Subscription based furniture rental company Furlenco has raised Rs 125 crore in a new funding round led by Sheela Foam Limited, with additional participation from Whiteoak and veteran investor Madhu Kela. This is Sheela Foam’s first investment in Furlenco after acquiring a 35 percent stake in July 2023 for Rs 300 crore.
The fresh capital will support Furlenco’s plans to broaden its product portfolio, strengthen its omnichannel presence and scale distribution as the company prepares for long term public market readiness. An IPO is part of its future roadmap.
Founded in 2012, Furlenco offers rental, purchase and refurbished furniture solutions and has secured multiple rounds of funding from Sheela Foam, Lightbox Ventures, Crescent Ventures and Eagles. The platform 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 startup intelligence platform TheKredible, Furlenco has raised a total of 313 million dollars to date with Sheela Foam and Lightbox Ventures among its largest investors. Founder and chief executive Ajith Mohan Karimpana holds a 12 percent stake as of the latest funding round.
Furlenco turned profitable in FY25. The company reported revenue of Rs 240 crore and a profit of Rs 3 crore, a sharp improvement from a loss of Rs 139 crore in FY24 driven by stronger subscription demand and disciplined capital deployment.
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