Infurnia announces IPO plans; raises 4cr in Pre-IPO funding; onboards Livspace as enterprise client

28 Jan 2022 , 03:29 PM

Infurnia Technologies, creator of cloud-native architecture design software, has announced plans to raise Rs 40 Crore in IPO on BSE Startup Platform at Rs 150 Crore valuation by mid-2022. Although the valuation and raise is small compared to mainboard IPOs, this is the largest fund raise in the BSE SME and BSE Startup category so far this year. Infurnia intends to raise half the capital from prominent angel investors and startup founders and the other half from retail investors. Infurnia also concluded pre-IPO funding of Rs 4 Crore from Jaipur Rugs and it’s director Yogesh Chaudhary along with participation from existing investors including Pallav Nadhani, founder of SaaS startup FusionCharts. It has previously collectively raised $1 million in funding from a host of angel investors and micro-VC firm Idein Venture.

Founded in 2014 by Nikhil Kumar and Lovepreet Mann, alumni of IIT Bombay and IIT Kharagpur respectively, Infurnia is innovator of world’s first cloud-native architecture design software for professionals and businesses. Infurnia competes with US based Autodesk for its architecture design software product. Infurnia is to Autodesk, what Google Docs is to Microsoft Word. Infurnia’s cloud-native design software has revolutionized the industry. It was first in the industry to demonstrate co-designing an architecture project like a team of people can co-edit a document in Google Docs.

Collaborative benefits of a design software becomes even more important for enterprises, which need API access to designs, bill of quantities, rendering services and integrations with ERP and CRM systems. Such seamless integrations are only feasible with cloud-native solutions like Infurnia and infeasible with other legacy desktop-based systems. Infurnia enjoys the first mover advantages in professional cloud-native architecture design software space with practically no competition. Infurnia recently onboarded Livspace, the technology enabled interior design services startup, to cater to their design technology needs.