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Online rental economy takes off in India

In India, just the market for rental of furniture is seen at around $800-850 million. Rentals of electronic appliances is a $500 million market and bikes $300 million, which adds up to a cumulative $1.5 billion market, says Prashanth Prakash, who started Accel Partners in India in 2006 and has invested in companies such as Bengaluru-based e-commerce market leader Flipkart, cab hailing service Ola, ticketing platform Bookmyshow and, most recently,, a furniture and utilities rental platform.

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