Bangalore: Hyderabad based online home decor firm Renderlogy raises Rs.6 crore from Astarc Ventures, the seed fund arm of automotive solutions provider Astarc Group. As the first investment, Astarc Ventures announced a corpus of $2 million in March that will be increased to $10 million over the next few years.
Incorporated in 2014 by Shailesh Goswami and Brinda – industry know-hows, Renderlogy provides interior designing, execution and technology-enabled design services. Firmly focusing on launching a B2C portal, building technology and creating a community for consumers across India, the firm claims to offer a revolutionary, user-friendly, virtual platform that help users to visualize their homes.
Speaking about the company, Shailesh Goswami, CEO, Renderlogy says, “Using this software, interior designing service and execution capability, the company envisioned to capture the builders' market. The idea was to tie up with builders and offer their customers automated interior designing using the portal, and then execute them using our own execution capability”.
Brinda, Co-Founder, Renderlogy says, “Renderlogy is democratizing interior decorator services using technology and building scale to enable a large set of home owners to use interior decoration services. We would like to see every home in the metros have a 3D visualization on our platform”.
On the other hand, the early-stage fund, Astarc Ventures is a diversified group with presence in automotive, retail, agro, infrastructure verticals. Astarc Ventures is part of a $400 million group and plans to invest in tech-focused, tech-enabled, disruptive technology companies in emerging industries such as mobile payments, digital healthcare, consumer internet, IoT, digital communication, 3D printing and data analytics areas.
According to Salil Musale, Co-Founder, Astarc Ventures, “We evaluated the idea based on the size and attractiveness of the market opportunity, leadership potential, vision and passion of the founder and traction made so far”.