Bengaluru-based architecture and interior design SaaS startup Infurnia has secured $1.2 Mn (around INR 10 Cr) in an angel funding round led by existing investor and owner of Jaipur Rugs Yogesh Chaudhary.
The round also saw participation from promotors of media companies like Ply Reporter and Surfaces Reporter, along with a host of companies in different categories like veneer company Coast to Coast, plyboard company Greenply and architectural hardware company Ozone.
With this, Infurnia has raised a total angel funding of $4.9 Mn to date.
The startup plans to use the fresh funds to fuel its market expansion and onboarding of many market leaders in the interior industry. Besides, it also aims to further develop its flagship design product and a software solution around manufacture and assembly called manufacturing execution system.
Founded by Nikhil Kumar and Lovepreet Mann in 2014, Infurnia is a cloud-native design software startup for the architecture and interior design industry. It offers cloud-based integrated products for design, documentation, and visualization on a subscription basis. These products include architecture design, interior design, kitchen design, manufacturing outputs and rendering.
Its design plan starts at INR 50,000 per year and can range up to 1.5 Lakh with additional offerings alongside the design plan.
The company claimed to have expanded its client base to over 600 clients over the past year. It also claimed to have reached $1 Mn in annual recurring revenue (ARR).
It counts the likes of LivSpace, Hometown, Purvankara and Urban Ladder as among its customers.
The startup competes against Autodesk, Siemens and Dassault Systèmes.
In October last year, the company raised the same amount i.e. $1.2 Mn of funding led by the same investor Yogesh Chaudhary.
The funding comes at a time when the broader enterprisetech continues to be an attractive proposition for investors.
For instance, last week SoftBank was reportedly discussing doubling down on its existing software portfolio firm Icertis.
However, as per Inc42’s Indian Tech Startup Funding Report 2023, enterprisetech startups witnessed a 68% decline in funding to $1.3 Bn in 2023 from $4 Bn in the previous year. Besides, the number of deals plummeted over 46% to 157 during the year from 292 in 2022.
