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Gulf spend on digital infrastructure to hit $70bln by 2024
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Gulf Region to invest over $70 billion in digital infrastructure by 2024
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World Economic Forum (via Public) / Over 50 Companies Reporting on Stakeholder Capitalism Metrics as International Support Grows
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Furniture rental company Furlenco gets $140 million © Provided by The Times of India
BENGALURU: Online furniture rental company Furlenco has raised $140 million (Rs 1,000 crore) in Series D funding, its largest till date, led by Mauritius-based Zinnia Global Fund. Other existing investors like CE Ventures and Lightbox Ventures also participated.
The funding is split between debt, Rs 850 crore, and equity, Rs 150 crore, and will be used to expand into tier I and II cities like Jaipur, Ahmedabad and Mysuru. The company, which counts RentoMojo among its competitors, is present in 10 other cities including Bengaluru and Mumbai.
Furlenco has been raising debt since last year, including Rs 44 crore in January from Black Soil Capital and Crescent Enterprises, and Rs 53 crore from four investors at the end of last year. The eight-year-old firm has raised close to $250 million in debt and equity till date.