Aamir Khan invests in furniture rental startup Furlenco



BENGALURU: Indian startups seem to be fast becoming the go-to destination for Bollywood celebrities to park their monies in. The latest name added to the list is actor Aamir Khan who has personally invested in furniture renting startup Furlenco, as per documents filed by the company with the Registrar of Companies (RoC).

Khan's investment marks a continued stream of Indian celebrities who have been backing domestic startups over the past few years. Most recently, actress Alia Bhatt bought a stake in fashion portal Stylecracker while actress Jacqueline Fernandez invested in Rakyan Beverages which makes juices under the Raw Pressery brand. Iconic cricketer Sachin Tendulkar has also made couple of investments in the startups space which include Smaaash, Smartron India.
The 52-year-old actor who is famous for being extremely selective about the movies he picks up has starred in films like Lagaan, Rang De Basanti, 3 Idiots. Khan has invested about Rs 2 crore in the Bengaluru-based Furlenco, as per documents TOI sourced through Paper.vc, an investment data platform.

Previously, Khan had been the brand ambassador of e-commerce site Snapdeal.

Globally too, celebrities have been making investments in startups such as Ashton Kutcher, Leonardo DiCaprio, U2's lead singer Bono, Jared Leto, Justin Bieber, among many others.

When contacted, Furlenco's founder Ajith Mohan Karimpana declined to comment on the matter. Khan could not be reached immediately for a comment on his investment in the company.

In India, such investments by celebrities are typically of small value but it helps the startups in using their vast reach across the country. It is not clear yet if Khan will also be the brand ambassador for Furlenco.

Another Bollywood biggies, actor Hrithik Roshan has been actively involved with startups even though it's not always been a direct investment in these companies. HRX, a brand by Roshan, saw the Flipkart-owned fashion e-tailer Myntra buy a majority stake in the venture and earlier this year he signed a Rs 100 crore brand endorsement deal with health and fitness startup CureFit. The endorsement deal reportedly offers him an equity stake in the company, promotions and royalty from his personal brand HRX's specialised workout plan. CureFit was started by former Myntra founder Mukesh Bansal and ex-Flipkart top executive Ankit Nagori..

Founded in 2012, Furlenco is run by Kieraya Furnishing Solutions across six cities in India. The company has about 4,000 monthly consumers purchasing a furniture rental subscription. In total, it has raised about Rs 240 crore in a mix of equity and debt funding. Khan's investment comes in Furlenco at a time when it is also picking up small debts at regular interval, people aware of the matter said. The company competes with the likes of Rentomojo and Pepperfry.
Source - Times Of India

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