Infurnia Technologies Bagged $1.2 Million in Funding
New Delhi: Infurnia Technologies raised $1.2 million from a group of angel investors led by Yogesh Choudary of Jaipur Rugs, valuing the company at a whopping $17 million. This brought Infurnia’s total funding to $3.7 million.
Infurnia is the world’s first all-in-one cloud-native design software for the architecture and interior design industry. It has taken the $10 billion design technology industry by surprise through its innovative cloud-based all-in-one design software solution. The industry is currently dominated by decades-old desktop solutions by Autodesk, a $50 billion market cap organization. It is growing at 15% monthly and is on the path to being cash-flow positive in the next nine months by mid-next year.
Infurnia believes the future of the design industry lies in cloud-based platforms. Taking advantage of improving web technologies and digital infrastructure, Infurnia brings all the benefits of a cloud-based platform to the design industry at a disruptive price. The startup is revenue-focused. It is currently growing at 15% month on month basis and is on the path to be cash-flow positive in the next nine months, by mid-next year.
Infurnia focuses on creating an integrated and easy-to-access design platform for the architecture and interior design ecosystem. Infurnia provides all requisite tools packed in one cloud-based software for design, documentation and visualization aspects of any architecture or interior design. Infurnia offers the software on subscriptions to Architecture and Interior design firms.
Infurnia Technologies has 300+ active clients. It mainly caters to the Indian market currently, although it has 10+ international paying clients, too. 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 utilized in market outreach and continued product innovation.”