Interior designing startup Foyr.com has raised $3.8 million (about Rs 24 crore) in a Series A funding round led by property consultancy firm Jones Lang LaSalle and a clutch of individual and non-institutional investors, a company statement said.
The startup will use the funds to expand to new markets in India and abroad, enhance its technology stack and launch new products by next year, Shailesh Goswami, founder and chief executive of Foyr.com, said.
“Real estate is a high value transaction and we empower real estate buyers to make informed decisions by providing advanced technology to builders, architects and developers for visualisation of their projects," he added.
Foyr.com, operated by JBR Interio Technologies Pvt. Ltd, was launched in March 2014 by Goswami. The Hyderabad-based startup uses technology, virtual reality and real-time market intelligence to provide interior design services to home owners.
An alumnus of Indian Institute of Technology, Delhi, Goswami has over 16 years of experience in the IT industry. Prior to setting up Foyr, he was a senior executive at tech giant Microsoft India.
In October 2016, Foyr raised investment from JLL India’s real estate technology investment vertical. In 2015, the interior design startup had raised under $1 million from Astarc Ventures. The startup also counts Brick Eagle Capital Group as an investor.