RentSher secures $300K from InMobi co-founder, others

RentSher, an online renting platform for daily household products, has raised about $300,000 (Rs 2 crore) in seed funding led by ex-McKinsey executive Vaibhav Doshi, InMobi co-founder Abhay Singhal and other investors.

Unicommerce co-founder Vibhu Garg, Nimbuzz COO Joby Babu, Abhishek Acharya (GM of Philips India) and Wipro executive Manish Shah also put money in this round, RentSher said in a press statement.

The startup, run by RentSher Online Rentals Pvt Ltd, will use the funds raised for product development and to expand its offerings. "We will strengthen the platform and build features such as geo-tagging and supply chain automation," said Abhijit Shaha, co-founder and president of product & strategy, RentSher.

RentSher is a peer-to-peer (P2P) marketplace for renting costumes, toys and dresses & accessories, besides office equipment. The startup, which is currently operational in Bangalore and Delhi, also provides delivery and pick-up services to users

The firm was founded last year by Shaha, Harsh Dhand and Karandeep Vohra.

Startups that allow users to rent goods and accessories have been generating tremendous investor interest. Flatfurnish, an online portal that facilitates furniture rentals, recently raised an undisclosed amount in angel funding from former Jabong CEO Arun Chandra Mohan.

To be updated...