GrabOnRent is driven by a very simple principle of providing accessibility to products to everyone. They cherish collecting memories through their journeys and the only way is to experience those. They make experiences more delightful by offering a variety of products on rent for any duration so their customers do not miss out on even a single memory.
As per the latest information GrabOnRent, a Bangalore-based on demand product rental marketplace, has raised an undisclosed Pre-Series A round. The funding was led by IvyCap Ventures and Unicorn India Ventures. The investment was done under IvyCap Ventures Trust Fund II.
While speaking about the development, Shubham Jain, Co-founder at GrabOnRent mentioned,
“We are also looking to invest in technology to track our metrics, CSAT i.e. customer satisfaction score (currently 81) and to measure and improve the product health score, which includes tracking complaints to help discard the defective products,”
In addition to this Vikram Gupta, Founder and Managing Partner of IvyCap Ventures mentioned,
“This is amongst the first few investments of IvyCap Ventures Trust Fund II and forms part of our early stage strategy, through which we have allocated INR 60 Cr. for early stage investments via the IvyCamp platform.”
The startup plans to utilise the funds in product development and customer acquisition. A part of the fund will also be used to acquire more quality merchants on the platform.