Founder: Shailesh Goswami
Financing status: USD 3.8 million in Series-A Round
Hyderabad-based virtual-reality (VR) home décor and design visualization platform Foyr has landed USD 3.8 million in Series A-Funding led by property consultancy Jones Lang LaSalle (JLL) among others.
Foyr previously received funding of USD 598,000 from housing accelerator Brick Eagle in October of 2016 and USD 898,000 in Pre Series A from Astarc Ventures in May of 2015. The recently raised funding will be allocated towards product innovation, expansion into international markets, and more deeply integrating its VR-based technology with real estate projects.
Foyr describes itself as “India’s first online, automated interior designer. The startup’s advanced VR visualization technology creates immersive 3D models of real estate spaces, allowing users to survey or design the space. The platform has three main target consumers and three areas of technological expertise: 1) prospective home buyers, 2) architects and designers and 3) builders and realtors. For each area, Foyr provides a wealth of serivces and support. Additionally, the platform is currently working on services oriented toward commercial real estate brokers.
The platform even provides customized designs free of charge when users upload specifications about their property. According to Foyr, once a user has approved a particular design, the startup provides thorough and hassle-free design solutions within two months.
Foyr was founded by Shailesh Goswami, a graduate of the Indian Institute of Technology, Delhi. He is also the platform’s CEO. Prior to founding Foyr, Goswami worked as a director of global delivery at Microsoft. Foyr is headquartered and operational in Hyderabad but is also available in Jaipur and Pune. Competition in the tech home furnishing area is fierce. Other players include Urban Ladder, Housify, Pepperfry, MyGubbi, and Livspace.
(Top image from foyr.com)