Largest Listing on the BSE Startup Board As Infurnia Files for IPO. Issue Opens on September 6
The startup filed its final IPO prospectus for raising INR 38.2 cr on August 30th.
Architecture and interior design software company, Infurnia, will launch their initial public offering (IPO) on 6th September. The issue will close on September 9. Infurnia is the largest listing on the BSE startup board.
The IPO will not have an offer for sale (OFS) component. Nikhil Kumar, Co-Founder and CEO and Lovepreet Mann, Co-Founder and CMO, will hold the largest share in the startup at a combined share of 50.64%.
Founded in 2014, Infurnia is a cloud-based platform that allows professionals to design buildings, interiors, and modular kitchens. Infurnia offers data management and collaboration tools, platform-independent accessibility, CAD, BIM and more to its users. In the past, the startup has raised over INR 10 cr in various funding rounds from several angel investors and VC firm Idein Ventures. Their customer base include brands such as Livspace, Spacewood, and Wakefit.
Since its inception, Infurnia has evolved from a web-only wardrobe configurator to a web-first building design, interior design and modular kitchen design application. The startup is working towards establishing a native multi-platform approach that would enable building native design applications for multiple desktop, tablet, mobile, virtual reality and server platforms in the future.
Infurnia believes that the future of the design industry lies in cloud-based platforms. Their goal is to create an collaborative and easy to access design platform for the architecture and interior
design ecosystem. Their product is aimed at enhancing productivity and bringing digital accountability on each stakeholder’s action throughout the life cycle of the project.
The IPO prospectus states that the market in which Infurnia operates is laden with competition, keeping the pressure up on the startup. The company may face competition from some Indian as well as internationally recognized technology services companies.
Infurnia is a cloud-based architecture design software platform. Founded in 2014 by Nikhil Kumar and Lovepreet Mann, the platform for architects and designers helps them design buildings, interiors, modular kitchens and floor plans. Their approach allows professional designers to implement BIM (Building Information Modeling) in their design and collaborate with other designers, get interactive feedback and more. You can learn more at https://www.infurnia.com/
About BSE Startup Board
As per the regulations laid down by SEBI, BSE Ltd set up the BSE startup board. BSE startup board enables listing of SMEs throughout India, enabling them to raise funds through the equity market. Start-ups seeking listing on BSE startup platform should be in the sector of IT, ITES, Bio-technology and Life Science, 3D Printing, Space technology, E-Commerce, Hi- Tech Defense, Drones, Nano Technologies, Artificial Intelligence, Big data and Enhance/Virtual Reality.
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