Joymode, a Los Angeles-based rental service for consumer goods, completes a sale to XRC Labs, a New York-based early-stage retail investment firm. The company previously secured $15 million in funding from a prominent global technology investor.
Joymode secures $14.4 million in Series A funding to expand its business model of providing products people can access without owning for offline experiences. The Los Angeles-based startup targets consumers seeking temporary access to items rather than permanent ownership.
Joymode offers a subscription model that curates products to discourage impulse purchases. The service targets consumers overwhelmed by retail choices, particularly in an Amazon-dominated market. It provides access to a rotating selection of goods without requiring full-price transactions.
Joymode secures $3 million in funding to expand its Los Angeles-based equipment rental platform for experiential services. The company targets customers seeking specialized gear for events and activities.
