India’s Furlenco to sell 35% stake for $36.5 million

Sheela Foam, the maker of the mattress brand Sleepwell, will be acquiring a 35% stake in furniture startup Furlenco, the publicly listed firm said Monday as it pushes for a bigger share of India’s mattress market.
Sheela Foam has proposed to pay $36.5 million for the 35% stake in the Bengaluru-headquartered startup, the older firm said in a stock exchange filing. The deal values Furlenco, which has raised over $225 million altogether prior to the deal against equity and in debt, at about $104.3 million.
Furlenco operates a furniture and appliance rental service. The platform, which opera

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