Blacksoil Capital invests Rs 20 cr in Furlenco
New Delhi: Furniture subscription startup Furlenco has received Rs 20 crore fund as venture debt from Blacksoil Capital.
The money raised will help the startup in marketing and technology enhancement.
BlackSoil Capital is an alternative credit PE fund and invests in any sector. It has invested Rs 1,000 crore in last 4 years.
"2021 will be an exciting year for Furlenco. We are very happy to have BlackSoil Capital as our new partner," Ajith Karimpana, CEO, Furlenco, said.
The startup has raised about USD 51 million as equity funding from various investors such as Crescent Ventures and Lightbox Ventures. Even Bollywood celebrity Deepika Padukone has invested in the company. The firm has also raised about USD 45 million as debt funding.
The company has been able to find 150,000 customers since it was founded in 2012. It was set up by Ajith Mohan Karimpana, Kieraya Furnishing Solutions. It operates in top 8 cities of the country, it said in a statement.
BlackSoil has invested in startups like Spinny, OYO, Vogo, Purplle, Zetwerks, TVF, etc.