Gurgaon-based furniture rental startup Cityfurnish.com has raised an undisclosed amount of funding from Brand Capital, the investment arm of media conglomerate Bennett, Coleman and Co. Ltd. (BCCL).
This round also saw the participation of existing investors of Cityfurnish further strengthening their confidence in Cityfurnish.
Cityfurnish plans to advertise its brand and offerings through various media publications of Bennett, Coleman & Co Ltd, which operates as Times Group.
The partnership is a significant step in propelling the brand to newer heights as it seeks to increase its footprint to 6 metro and tier one cities and to become a sought after brand in premium lifestyle products rental space.
Founded by IIM Ahmedabad alumni, Neerav Jain in September 2015, CityFurnish offers furniture, furnishings and appliances on rent. The startup currently operates in Gurgaon, Delhi and Bangalore, and plans to launch its services in Pune this month. It also seeks to increase its footprint in Mumbai, Hyderabad and Chennai.
Neerav Jain, Founding Director of Cityfurnish said,
“We are happy and excited about our new association with Times Group. We intend to leverage their ability to build brands through their prestigious advertising channels. We foresee a new elevated status for our brand, which shall help us expand faster in new cities.”
Last year it secured an undisclosed amount of seed funding from Citrus Pay’s co-founder, Jitendra Gupta.