Home decor solutions startup Foyr has raised an amount of $4.2 Mn from some of the famous and leading investors which includes SRI capital and its existing investors, post raising a $3.8 Mn Series A roundin December 2017.
With this funding, SRI Capital marked the first investment of $2 Mn from his recently launched $100 Mn venture fund which is based in Philadelphia, USA as of now.
Some of the existing investors who participated in this round included property consultancy firm Jones Lang LaSalle (JLL) and a few individuals and non-institutional investors also participated and provide funding as well.
Foyr is headquartered in Singapore but has its development center which is based out of Hyderabad, India. Its customers include over 80 top property developers in India as well as over 150+ architect and interior design firms.
Doc Parghi, partner at SRI capital, said in a statement that, “We are delighted to back a seasoned tech executive like Shailesh Goswami who has built world-class products at Microsoft earlier before founding Foyr. We intend to help him acquire the first few customers in the US and set up his sales presence here.”
The company intends to use the money raised in the latest Series A round to expand its product and services in the American market, which is expected to be its largest market in two years, as stated by the company in a media statement.
Foyr is at mission is to solve real life problems with the help of a technology, innovation and design. This mission not only guides our business; it also defines our culture, the kind of work we’re passionate about. We’re a varied lot of thinkers and doers, continually rethinking what’s possible to help us all do what we love in new ways. We always do our jobs knowing that we can achieve great things when many people work together.