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Indian startups increasingly raising debt to fund operations

Indian startups increasingly raising debt to fund operations
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

Furniture rental company Furlenco gets $140 million

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.

Egghill Headed for Edgehill Village

Courtesy of Egghill, Blackbird Capital The backers of a breakfast restaurant are planning a late-summer opening in Edgehill Village, with veteran chefs Parkes Brittain and Luke Williams to oversee the business. To be called Egghill, the business will share an address with Jack Brown’s Beer and Burger Joint, a regional chain backed by local private equity firm and holding company Blackbird Capital. According to a release, Blackbird Capital is the investor in Egghill, which will have an address of 1201 Villa Place and will take about half the space once home to Edgehill Cafe. The space is adjacent to Jack Brown’s, which opened in late 2019.

Breakfast restaurant set for Edgehill Village

Breakfast restaurant set for Edgehill Village
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