India Deal Monitor: Accel, Bain Capital back Rentomojo and more updates

Online rental marketplace Rentomojo, operated by Edunetwork Pvt. Ltd, has raised about $3.3 million (Rs 24.5 crore) from its existing backers, including Accel, Chiratae Ventures, Bain Capital, and French entrepreneur Renaud Laplanche, per media reports.

Accel is now the largest shareholder with about 26.8 per cent stake in Rentomojo while Chiratae holds around 25.12 per cent. Meanwhile, Bain Capital holds 8.9 per cent stake in the startup.

With the latest infusion, Rentomojo has attained a valuation of $100 million, Entrackr reported.

RentoMojo raised about Rs 27.7 crore as part of its Series C funding led by Samsung Venture Investments Corporation (SVIC) in August last year, with the participation of Mitsui Sumitomo Insurance Venture Capital (MSIVC). In May, RentoMojo had reportedly received $717,000 in debt funding from Infosys Ltd co-founder Senapathy Kris Gopalakrishnan via non-convertible debentures.

Founded in 2014 by IIT Madras graduates Geetansh Bamania and Ajay Nain, RentoMojo offers furniture, electronics and bikes on lease in Mumbai, Delhi, Pune, Bengaluru, Chennai, Hyderabad, Noida, and Gurugram. It provides consumers with a viable alternative to traditional EMIs by offering rental options across various product categories.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India from May 13-17, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
RentomojoBengaluru3.3 million-Accel, Chiratae Ventures, Bain Capital, Renaud Laplanche-Internet
Stepathlon Lifestyle Mumbai--Josh Liberman, Mark Adams-Health & Fitness
Juicy ChemistryCoimbatore650,000Series AAkya Ventures-Consumer
GroCurvGurugram-SeedUnicorn Investments Pte Ltd. -Technology
DeepTekPune--GHV (Green House Ventures) AcceleratorNobori Ltd, NTT DataHealthTech

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.