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Infurnia Technologies files to raise Rs.38-Cr via startup IPO

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Cloud-based architectural design software startup Infurnia Technologies has filed its draft red herring prospectus (DRHP) for raising INR 38.2 crore via its initial public offering (IPO). The IPO will entirely comprise a fresh issue of shares and will not have any offer for sale (OFS) component. The startup's shares will be listed on the BSE Startups platform. Set up in 2014, Infurnia owns, develops and operates a cloud-based platform that allows professionals to design buildings, interiors, and modular kitchens. From the funds raised through the IPO, the startup will invest INR 29.02 crore to expand the business of its wholly owned subsidiary company; towards the development, upgradation and maintenance of its cloud-based software; and INR 8.68 crore for other general corporate purposes.

From the Venture Intelligence PE-VC Deal Database: In Jan 16, Infurnia had raised USD 0.15 M from Idein Ventures (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)