GrabOnRent specializes in connecting rental product providers with purchasers, facilitating product discovery, satisfactory warranty, easy bills and logistics help.
Bengaluru: Bengaluru-based totally GrabOnRent, the on-call for product condominium market in India, has secured an undisclosed quantity in pre-Collection A investment from IvyCap Ventures, with participation from Unicorn India Ventures.
The investment become raised through the IvyCamp platform—an incubation platform of IvyCap Ventures—and the proceeds may be used for customer and supplier acquisition, along side product development.
“That is a number of the first few investments of IvyCap Ventures Believe Fund II and bureaucracy part ofour early stage strategy, via which we have allotted Rs.60 crore for early-stage investments thru the IvyCamp platform,” stated Vikram Gupta, founder and dealing with partner of IvyCap Ventures.
As a part of the transaction, Prayag Mohanty, vice-president at IvyCap Ventures, and Bhaskar Majumdar,managing partner at Unicorn India Ventures, will be part of the board of GrabOnRent Net Pvt. Ltd.
Founded in September 2015, GrabOnRent makes a speciality of connecting condo product suppliers withpurchasers, facilitating product discovery, first-class guarantee, smooth payments and logistics supportvia the platform which in any other case is bulky inside the offline rental industry.
The begin-up facilitates users hire products throughout categories which include furniture, home equipment, cameras, journey equipment or even facilitates event planners by presenting materials onhire.
The founding team contains 3 IIT-Guwahati graduates who have worked throughout firms together withFlipkart Logistics and Hewlett-Packard.
Renting as a solution facilitates clients who’re looking to use merchandise for a shorter or uncertainduration.
Additionally, it offers an stop–consumer to attempt a product earlier than buying—at a fraction of thevalue.
“The foremost awareness of the organisation is to generate awareness towards the viability of rentingmerchandise. One doesn’t need to scratch their heads in finding out in favour of renting in opposition toshopping for if the period of usage is restrained. Our suppliers are brief to evolve to our technologiesand we foresee greater providers becoming a member of the platform inside the coming months,” Manish S. Sugandhi, leader operating officer of the begin-up, said.