Infurnia Technologies raised USD 1.2 million from a group of angel investors led by Yogesh Choudary of Jaipur Rugs, valuing the company at USD 17 million. This brought Infurnia’s total funding to USD 3.7 million to date.
Infurnia claims that it is the world’s first all-in-one cloud-native design software for the architecture and interior design industry. The startup said in a statement that the industry is currently dominated by decades-old desktop solutions by Autodesk, a USD 50 billion market cap organisation. It is growing at 15 per cent monthly and is on the path to being cash-flow positive in the next nine months by mid-next year.
With the help of fresh funds, Infurnia will be venturing into the North American market with a local sales team presence in the first half 2024. It counts Livspace, Hometown, Durian, Gopalan, Purva Streaks by Puravankara, Homworks by Prominance, etc, as marquee clients.
Nikhil Kumar, CEO of Infurnia Technologies, said, “We are raising funds on need basis from time to time from Angels primarily. Yogesh is a perfect investment partner who has consistently reinvested in us for the last 4 years. We needed product-oriented investors who understand it takes time to create a usable and marketable product in the deep tech space we are into. Yogesh perfectly fits the bill and he is very delighted with the growth we are able to pull off now that the product is mature. We are aiming for the sky, which is being the number one player in the design technology market and we will achieve it through continuous growth and innovation. Money is being utilised in market outreach and continued product innovation.”
Categories: Other News