Foyr.com is a Hyderabad-based interior decorations startup. The startup uses technical software to design interior decorations for homes. The startup announced yesterday (27/12/2017) that it has raised US $3.8 million (Rs. 24.7 crores) in Series A round of funding from the property consultancy firm, Jones Lang LaSalle (JLL) and a clutch of angel investors.
The technical software used by the startup creates a 3D image of the customer’s home so that he/she can decide how to decorate their homes. The 3D image generated by the software is so good that it gives a Virtual Reality (VR) like feeling to customers.
“A walk through the virtual model from every angle will give the viewer a realistic point of view of the space”, Foyr’s Founder and Chief Executive Officer (CEO), Shailesh Goswami said.
Prior to this round of funding from Jones Lang LaSalle (JLL), Foyr had raised seed funds and Pre Series round of funding from the VC firms, Astarc Ventures and Brick Eagle. According to The Hindu Business Line, apart from helping customers get a 3D view of their homes for interior decoration purposes, Foyr also helps civil engineers and builders with their building design and construction. The startup will use the funds secured to upgrade its technical software to help more in real estate projects and improve its brand image both in India and abroad.
“It will help in the development of the real estate industry as we know it”, Anuj Nangpal, CEO of Real Estate Technology Fund said.
The other Virtual Reality (VR) startups to get funded this year (2017) include the VR/augmented reality startup, Play Shifu, which raised an undisclosed amount of Pre Series funding led by IDG Ventures and IDFC-Parampara Fund during November, this year. The augmented reality (AR) startup, Whodat Tech, raised US $600,000 in seed round of funding from Ideaspring Capital during April, this year (2017). The VR startup, Absentia, raised Rs. 8 crores in Pre Series round of funding from Exfinity Ventures during April, this year (2017) just to name a few.