Hyderabad based VR platform Foyr raises worth $4.2 million from SRI Capital, JLL partners & others. Foyr registered in Singapore as RBJ International Pte. Ltd used by interior designers, architects, and property developers to design the architect online and see it in 3D mode using Virtual reality.
SRI capital invested $2 Mn in this extended series A round, marked its first investment from his recently launched $100 Mn venture fund based in Philadelphia, USA.
Foyr will use this funding round to enter the US market, which is expected to be its largest market in two years.
Foyr has raised a total $9.7 million funding till date.
“We are excited to be backed by SRI Capital which is one of the only VCs who understands the US market as well as Indian development teams. Having a successful sales professional like Doc Parghi joining our board and helping us think through the US market entry will make us better prepared as we launch in the US later this year,” said Shailesh Goswami, founder and CEO Foyr.
“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,” said Doc Parghi, the partner at SRI Capital.
Earlier SmartVizX, a virtual reality-based startup has also raised $1.45 Million (Rs 10 Crore) in a pre-series A funding round led by YourNest Venture Capital and Indian Angel Network‘s IAN fund.
SmartVizX launched India’s first Virtual Reality-based platform for architecture and interior design collaboration.