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  • Writer's pictureRCS Ottawa

An Indian startup raised $30 million because millennials don’t even want to own furniture

People used to dream of growing up and acquiring a bunch of stuff. Now, it seems, dreams are different and millennials prize experience. For a globally connected generation whose only constant is change, permanence is burdensome—and that includes furniture.

That’s the thinking that got India’s Furlenco $30 million in venture capital to (as the name implies) lend furniture. The company has 15 in-house designers who, with changing ownership in mind, work on of-the-moment pieces that last but can be easily refurbished. The team is designing reclining chairs that have replaceable seats that can be swapped out in a snap, for example.

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