Infurnia, a cloud-based interior design software platform, has raised $200,000 in a fresh funding round from a group of angel investors. The latest infusion takes the total capital raised by Infurnia Technologies, the Bengaluru based startup that owns the platform, to $760,000.
The round values Infurnia, founded about six years ago, at $5 million, the startup’s founder and CEO Nikhil Kumar told TechCircle, while declining to disclose the identities of the angel investors who participated in this round. Kumar dubbed the round a pre-Series A round, which usually implies a seed round.
"This fundraise will allow us to build a deeper and more scalable architecture design software which can challenge the best of the desktop-based architecture/BIM (Building Information Modelling) software in terms of depth of designing. We will also be looking to expand our customer base in the modular kitchen and interior design industry,” he added.
Kumar founded Infurnia in 2014 with Lovepreet Mann. The startup raised $160,000 in 2016 from venture capital firm Idein Ventures. Subsequently, another $400,000 came from a group of angel investors, whose identities weren’t disclosed.
Infurnia employs virtual reality technology solutions to offer a cloud-based professional architecture and interior design software.
"Along with the design software, Infurnia also provides features like quotation generation, optimized cutting lists, cloud-based rendering, etc. Being a cloud-based product, Infurnia allows design firms to integrate the design software and its various outputs directly with their own internal systems. This enables enterprises to offer a one-stop solution to all their designers," Kumar said.
The startup recently partnered with Bengaluru-based interior design company LivSpace. HomeLane, also based in Bengaluru, is experimenting with its cloud-based design software through a paid pilot engagement.
About a month ago, Infurnia announced a new feature which has the capability of co-designing. The feature works like Google Docs where more than one designer can design on the cloud at the same time.
The company charges $500 per user per year for enterprises and $200 per user per year for freelance designers. It claims around 400 organic sign-ups every month, out of which 250 are from India and 150 are from overseas (mostly US). "Infurnia is targeting profitability in 2020 and will be cash flow positive soon," said Kumar.