Bengaluru-based cloud-native architecture design software startup Infurnia on Thursday announced it has raised $240,000 in its latest round of funding from a cluster of angel investors including Pallav Nadhani, Founder of FusionCharts. This puts the total amount of capital raised at $1 million and valuing the startup at $7 million.
Commenting on the funding, Lovepreet Mann, CEO, Infurnia, said,
“This funding will give us the capabilities to make inroads in the global market while strengthening our presence in the local market. The fact that we have been in the investors’ radar is a testament to the value proposition of our offerings. With this fresh round of funding, we also look at gaining insights and business perspectives from industry veterans such as Pallav Nadhani.”
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Founded in 2014 by Nikhil Kumar and Lovepreet Mann, Infurnia offers a cloud-based platform for professionals to design buildings, interiors, and modular kitchens. The platform allows designers to register and start using the software from anywhere.
The startup said in a release that the funding is backed by the recent progressive developments at Infurnia such as becoming the design technology partner of India’s online home and lifestyle shopping store selling products – Pepperfry, and being one of the winners of the construction technology startup competition organised by Built World Technology India (BWT-India).
“One of the main reasons to back Infurnia was its value proposition and the ability to bag reputed clients such as Pepperfry, especially during the pandemic. Its offering has the potential to scale across geographies. I look forward to working with Infurnia closely to reach new markets and increase the business figures in the coming few quarters,” added Pallav Nadhani.
Where other softwares in this industry just allows file syncing on the cloud, Infurnia said it enables its designers to become truly mobile and work from any device, anywhere, anytime, by offering the entire software on the web. The company charges $500 per user per year for enterprises and $200 per user per year for freelance designers.
In May 2015, the platform secured the first angel round of investment, and later, in January 2016, it received $160,000 from UAE-based venture capital firm Idein Ventures. In October last year, the company also raised $200,000 from a group of angel investors at a valuation of $5 million.
Edited by Megha Reddy
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Link : https://yourstory.com/2020/09/funding-alert-web-based-architecture-design-software-startup-infurnia
Author :- Sujata Sangwan ( )
September 17, 2020 at 10:36AM
YourStory