Total amount raised
$290M
Latest funding date
2025-12-03
Location
Furlenco has successfully raised funds over 22 rounds, with the latest being a Venture - Series Unknown. The company is backed by 36 investors, including White Oak Capital Management and Madhu Kela Family Office.
Keep reading to explore the intricacies of Furlenco's fundraising journey and the investors backing this innovative platform.
Furlenco has raised funding across multiple rounds backed by investors including Sheela Foam, Lightbox Ventures, Zinnia Global Fund, CE-Ventures (Crescent Enterprises), WhiteOak, Madhu Kela, and Northern Arc Capital.
Keep reading to explore Furlenco's fundraising journey — from its early angel round in 2013 to its most recent funding in December 2025.
What Is Furlenco?
Furlenco (operated by Kieraya Furnishing Solutions Pvt. Ltd.) is a Bengaluru-based subscription furniture rental platform founded in 2012 by Ajith Mohan Karimpana. The company allows customers to rent fully furnished home setups on a monthly subscription basis, covering furniture, appliances, and home décor. Furlenco serves over 1.5 lakh active subscribers across 28+ Indian cities and has furnished over 10 lakh homes. In FY25, the company turned profitable for the first time, posting a net profit of INR 3 crore on revenue of INR 240 crore.
How Much Funding Has Furlenco Raised?
- Angel Round
- Amount Raised: USD 100,000
- Date: September 2013
- Lead Investors: Undisclosed angel investors
- Series A
- Amount Raised: USD 6,000,000
- Date: March 2015
- Lead Investors: Lightbox Ventures
- Series B
- Amount Raised: USD 30,000,000 (USD 15M equity + USD 15M debt)
- Date: October 2016
- Lead Investors: Lightbox Ventures
- Participants: Axis Capital, HNIs
- Series C
- Amount Raised: USD 17,500,000
- Date: November 2019
- Lead Investors: CE-Ventures (Crescent Enterprises)
- Participants: Lightbox Ventures, Innovative Quest
- Venture Debt
- Amount Raised: INR 20 crore (~USD 2,700,000)
- Date: January 2021
- Lead Investors: BlackSoil Capital
- Series D
- Amount Raised: USD 140,000,000 (USD 120M debt + USD 20M equity)
- Date: July 2021
- Lead Investors: Zinnia Global Fund
- Participants: CE-Ventures, Lightbox Ventures
- Strategic Stake Acquisition
- Amount Raised: INR 300 crore (~USD 36,000,000)
- Date: July 2023
- Lead Investors: Sheela Foam Limited (35% stake in House of Kieraya)
- Follow-on Equity
- Amount Raised: INR 107 crore (~USD 12,700,000)
- Date: 2024
- Lead Investors: Sheela Foam Limited (additional ~10.5% stake)
- Debt Round
- Amount Raised: INR 60 crore (~USD 7,000,000)
- Date: March 7, 2025
- Lead Investors: Northern Arc Capital
- Participants: CredAvenue (Yubi)
- Series Unknown (Equity Round)
- Amount Raised: INR 125 crore (~USD 15,000,000)
- Date: December 3, 2025
- Lead Investors: Sheela Foam Limited
- Participants: WhiteOak, Madhu Kela
Total Amount Raised: At least $290M based on disclosed funding rounds (equity and debt combined).
Key Investors
- Sheela Foam Limited
- Details: The Sleepwell mattress brand parent has emerged as Furlenco's most prominent backer, acquiring a 35% stake in July 2023 for INR 300 crore, adding ~10.5% in 2024 for INR 107 crore, and leading the December 2025 round of INR 125 crore. Sheela Foam holds approximately 43.89% of Furlenco on a fully diluted basis.
- Lightbox Ventures
- Details: Mumbai-based early-stage VC and one of Furlenco's founding investors, leading the Series A ($6M, 2015) and Series B ($30M, 2016) rounds, and participating in Series C and Series D.
- Zinnia Global Fund
- Details: Led the massive $140M Series D round in July 2021, primarily structured as venture debt, enabling Furlenco to aggressively expand operations and enter new markets.
- CE-Ventures (Crescent Enterprises)
- Details: The UAE-based corporate venture arm led Furlenco's $17.5M Series C in November 2019 and participated in the Series D round. CE-Ventures joined Furlenco's board as part of its investment.
- Northern Arc Capital
- Details: Chennai-based NBFC that co-led Furlenco's March 2025 debt round of INR 60 crore via non-convertible debentures alongside CredAvenue.
What's Next for Furlenco?
Having achieved its first-ever annual profit in FY25, Furlenco is focused on scaling its omnichannel presence across India — expanding from 28 cities into new markets — while strengthening its product innovation and supply chain capabilities. The company has signaled ambitions for a public market debut (IPO) in the coming years, leveraging its growing subscriber base and improving financial metrics as it positions itself for long-term growth in India's subscription furniture market.
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