Bengaluru-based RentSher has raised fresh funding worth $1.1 million for expansion plans among other aspects.

The e-commerce startup provides users with an online platform to rent products among other services. Products available on the platform focus on electronics in a variety of sectors including healthcare.

Part of the newly raised funds will be put toward further developing and expanding the company’s online platform to reach a variety of customers.

“With the latest round of funding, we are poised to further fulfil our mission of setting up the strongest technological foundation to cater to the company’s rapidly-increasing user base and make renting easy for all across new and existing markets,” RentSher India CEO, Harsh Dhand said, as reported by Business Standard.

Other parts of the $1.1 million funding round will be put toward expanding the company’s physical footprint and for job growth.

Since its founding in 2014 by Dhand, Abhijit Shaha and Karandeep Singh Vohra, the rental startup has gained a presence in India as well as in UAE. The company aims to build a rental platform to provide rental options for every need. The company hopes to simplify the rental process for both private individuals and companies.

Investors in the funding round include angel investors of the LetsVenture platform, a senior partner from McKinsey & Company’s Middle East office, angel investors from the UK, UAE and Saudi Arabia, Shorooq Ventures and Dubai-based Latitude Consultants, the latter two of which led the round.

“We are excited to lead the investment in RentSher and be a part of the company’s stellar growth journey,” co-founding partners at Shorooq Investments, Mahmoud Adi and Shane Shin said. “After three years of experience in providing rental equipment for a wide variety of needs in India, RentSher is best positioned for immediate expansion to other geographies along with the help of its strong tech team.”

Abu Dhabi-based Shorooq Investments is a venture capital and private equity fund.

RentSher plans on providing more rental options for a variety of needs including events, while also expanding into 5-8 new locations this year. The startup already has a customer-base of 60,000.

“We are on a mission to transform this multi-billion-dollar market with our easy-to-navigate platform that enables customers to search from thousands of products online, browse all the details and book instantly without wasting their valuable time organizing rentals for their next party,” Dhand said. “All our business partners receive order bookings without spending time and money towards business development.”

(Picture courtesy: http://content.timesjobs.com/)