Realty startup Foyr raises USD 2 mn from US-based SRI Capital

Realty startup Foyr.com today said it has raised USD 2 million from SRI Capital to fund its expansion plan in India and the US.

Hyderabad-based Foyr, a technology platform for visualising real estate spaces, has closed its Series A round of funding.

"We have raised USD 2 million from serial entrepreneur Sashi Reddi's SRI Capital," Foyr Founder and CEO Shailesh Goswami told PTI.

With this round of funding, Foyr has raised USD 6.5 million since its inception in 2015.

Besides SRI Capital, property consultant JLL, Astarc Ventures and Brick Eagle are major investors in the company, he said.

"We are expanding in India and overseas to encash our unique technology," Goswami said.

Foyr's customers include over 80 top property developers as well as over 150 architect and interior design firms in India and Singapore.

Asked about the revenue, Goswami said the company posted 200 per cent growth in 2017-18 and would achieve break-even in next 2-3 years.

"We are targeting to reach USD 10 million revenue by 2020," he added.

Foyr has bolstered its leadership team with Vikas Kaushal (Ex Microsoft) spearheading its International business and Ankur Garg (Ex Indian Navy) heading the India Business.

"Foyr's patent pending software platform combines high quality visualisation with artificial intelligence to empower better decision making by seeing things.

"Its proprietary compression algorithm enables heavy virtual worlds to be recreated and run seamlessly on all devices including low powered mobile devices," the company said.