Fashion Rental Startup Flyrobe Raises $5.3 Million Led By IDG Ventures

On-demand apparel rental platform Flyrobe has raised $5.3 Million in its second round of funding led by IDG Ventures, with the participation of Tokyo-based GREE Ventures and existing investor Sequoia India.

The funds will be used to expand to 5 more cities including Hyderabad, Bangalore, as well as to strengthen its technology, product and business teams. Flyrobe is currently operational in Delhi and Mumbai.

Other investors in the company include Kunal Bahl and Rohit Bansal, Founders of Snapdeal, Vijay Shekhar Sharma, Founder and CEO of Paytm, Kunal Shah and Sandeep Tandon, Founders of Freecharge, Zishaan Hayath, CEO of Toppr, and Leon Seynave, Chairman of Stanhope Capital.