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The 18-month-old company thesis is simple: it doesn ;t make sense for most people in India to buy furniture and appliances for their place of residence. Instead,聽Rentomojo wants to free people from the burden and cost of ownership but letting them rent what they need instead.Renting isn ;t commonplace for home items, but the benefits lack of commitment and cheaper prices feed into trends that are聽accentuated in India,聽Geetansh Bamania, CEO and founder of RentoMojo, told me in an interview.Indian workers, he explained, have, on average,
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a low disposable income 6,000-7,000 INR or around $105 which makes stumping up for expensive items tricky. They are also likely to move cities regularly, he argued that typically an average young worker moves location every two or three years. That makes own
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ing physical assets impractical since you either cart them aroun
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d with you, or are forced to go through the pain of selling them second-hand before you move.Using聽R Htaf Mixmax Raises $1.5M From Harrison Metal, Floodgate To Bring Interactive Apps To E-mail
Extreme Startups morphed out of Extreme University, with funding from Extreme Venture Partners, OMERS Ventures, RHO Canada Ventures, BlackBerry Partners Fund, and Business Devel
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opment Bank of Canada BDC . The accelerator has two cohorts of five companies each, which go through the typical 12-week incubator program.For participants, the accelerator provides funding, mentorship, and access to administrative and legal support. It gives teams $50,000 at the start of the 12-week program in exchange for 10 percent of equity, as well as an addition
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al $150,000 convertible note upon exiting the program. In addition, participating startups get coworking space, will attend weekly classes, and will have access to more than 50 mentors that have signed
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up to help.The first two cohorts included companies like e-commerce startup Shoplocket, couples app SimplyUs, and online ticketing startup Picatic.With that in mind, the next five companies are a mix, from online craft marketplace BRIKA to business i