Foyr is a startup in the prop-tech space providing services in the interior design and execution space using unique 360-degree visualization technology. The company has raised its series A funding of $3.8 million, which it proposes to deploy in expanding its base in India and overseas and also in shoring up its technological capabilities. The investors in this round are Jones Lang LaSalle (JLL), a leading player in the property consultancy business plus a clutch of non-institutional and individual investors.
Launched in March 2015, by Shailesh Goswami, who is also the CEO of the enterprise, Foyr specializes in offering visualization solutions to home owners as well as to architects, interior designers and builder alike. The company uses latest technologies like virtual reality to produce real-time picturization of any space once the inputs like the layout and dimensions of the property are conveyed to them. Foyr counts over 600 home buyers already as its valued clients who have availed their services.
Goswami sounded ecstatic when he made the announcement of this funding by JLL; â€śWe are thrilled to get funds from the strategic investors like JLLâ€¦.. 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 visualization of their projectsâ€ť was the way he reacted.
Foyr claims it can provide a walk through the virtual model from every angle will give the viewer a realistic PoV (Point of View) of the space from within the property. This is considered unique by the industry experts and both the existing investors in the project and the ones who have participated in this round also appear upbeat about its prospects.
Anuj Nangpal, CEO of Real Estate Technology Fund commented, "Foyr is unparalleled to any other existing technologies in the real estate 3D visualization space.We see its technology as a key to the enhancement and development of the Real Estate Industry as we know it, which will be the future of selling commercial and residential projects to the prospective buyersâ€ť.