Mumbai, June 12 -- Sheela Foam Ltd will likely infuse additional capital in House of Kieraya Ltd (HoK), which operates furniture rental startup Furlenco, as the company seeks to raise $10-15 million, two people familiar with the matter toldMint.

"The company plans to rope in external investors and existing investors," one person said, adding that the deal structures are still being worked out.

Sheela Foam, which listed in 2016, has invested about Rs.400 crore to date to acquire a 45% stake in HoK, making it the largest shareholder. With 50.10% of the equity voting rights, HoK is strategically important for Sheela Foam as it can be a potential growth vertical for the mattress maker, Crisil said in April.

"The company is looking to raise...