Flyrobe Raises $3.71 million in B-Series Funding Round
News Highlight: Flyrobe raises around $ 3.71 million in its series B funding round.
Flyrobe, an on-demand fashion rental startup, has reportedly raised around $3.71 million in Series B funding round led by Sequoia Capital on Thursday.
Sequoia Capital, while leading the funding round, is said to have invested Rs 10.1 crore, IDG Ventures Rs 6.1 crore while as Flyrobe founders namely Pranay Surana and Shreya Mishra have together pumped in Rs 1 crore investment.
Previously, that is in 2016, Venture capital firms namely IDG Ventures, Sequoia Capital and Gree Ventures collectively had infused $5.3 million investment in series B funding round.
Flyrobe up to the present time has raised $10.7M in four funding rounds.
Flyrobe, a Mumbai based startup offering a wide range of outfit rentals, was brought into existence by three IIT Bombay graduates namely Shreya Mishra, Pranay Surana and Tushar Saxena in 2015.
Founder Shreya Mishra is currently serving as company’s CEO, Pranay Surana as a chief operating officer while as Tushar Saxena as chief technology officer.
The company currently has a presence in popular cities of India viz Delhi, Bangalore, Mumbai, Hyderabad, Pune, etc. Besides serving customers online, Mumbai based startup operates offline stores in Delhi and Mumbai.
Presently, somewhere around fifty employees are working in the company and as per app intelligence provider, Apptopia, Flyrobe mobile application sees 2,894 downloads on a monthly basis.