Infurnia Holdings Ltd - Stock Valuation and Financial Performance

The Company was originally incorporated as a Private Limited Company in the name of “Infurnia Furnishings Private Limited” on December 09, 2014 under the provisions of the Companies Act, 2013 bearing Corporate Identification Number issued by the Registrar of Companies – Maharashtra. Subsequently, name of the company changed to “Infurnia Holdings Private Limited” vide fresh certificate of incorporation dated February 14, 2022 bearing Corporate Identification Number issued by the Registrar of Companies - Bangalore. Subsequently, the company was converted into Public Limited Company under the provisions of the Companies Act, 2013 and the name of the Company was changed to “Infurnia Holdings Limited” vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company dated March 03, 2022 bearing Corporate Identification Number issued by the Registrar of Companies - Bangalore.

Infurnia, is an architecture and interior design software Company. The company was set up in 2014 by Nikhil Kumar and Lovepreet Mann. It owns, developed and operates a cloud-based platform that allows professionals to design buildings, interiors, and modular kitchens. Infurnia provides a viable alternative to architects looking to work in a more collaborative environment, not just in terms of the designs but also how that design data is shared across the various stakeholders in a project. A core pillar of Infurnia’s vision is to create an integrated platform where all the stakeholders involved in the design, build and operate phases of a building lifecycle can seamlessly communicate over same digital design with each other; from the architects designing the building to the engineers performing strength analysis; from the site contractors developing the project to the facilities managers operating it; from the interior designers to the end customers; from the furniture retailers to the modular furniture manufacturers. This will enhance productivity and bring digital accountability on every stakeholder’s action across disciplines throughout the life cycle of the project.

Infurnia’s flagship product is a cloud-native architecture and interior design software, by the same name as Infurnia. In 2016, Infurnia expanded the solution to modular kitchen design, but within a cuboidal shaped room only. The solution was marketed and sold door-to-door to about 30 modular kitchen shops across India’s 8 largest metro towns. For the first time, industry saw a modular kitchen design software which worked totally from the comfort of the web-browser. In 2017, Infurnia further enhanced the scope of the solution to include a full-fledged floorplan design module. Now the users could design an entire floor with any shaped room, having innumerable doors, windows, pillars, beams, balcony railings, etc. The application was no more limited to modular kitchen design, but bedrooms, living-rooms, etc could be designed too. Infurnia also built out a cloud-based rendering engine which was using Blender’s cycle engine at the backend.

In 2018, the scope of the software was further enhanced to designing of multi-floored apartments along with staircase, etc. Infurnia was no more merely an interior design application, but architectural building designs could also be done. Additional features like design documentation was added to the software. In 2019, Infurnia innovated an audacious concept for the architecture design world. It released co-design and version control features for the architectural design software. It was for the first time that the architectural industry witnessed such collaboration features which could let multiple designers work at the same point of time from different location on the same design project on real time basis. In 2020, when covid struck, Infurnia took another bold step of rearchitecting the entire software so that Infurnia shifts from web-only to web-first approach and become natively available on all major platforms like desktops, tablets, virtual reality, servers, etc. It took longer than a year to come out with revamped software and then yet another two quarters to make it usable. It was only at the start of 2022, that we could restart serving paid clients.

Business area of the company

The company is an architecture and interior design software company. The company owns, developed and operates a cloud-based platform that allows professionals to design buildings, interiors, and modular kitchens.

Key Milestones of the Company

• 2014: Incorporation of the company as “Infurnia Furnishings Private Limited”.
  
• 2015: Release of first product - a web based wardrobe configurator.
  
• 2016: 2 wholly owned subsidiaries - “Infurnia Technologies Private Limited” and “Infurnia Services Private Limited” were registered with the intention to separate the technology and services business. The technology product asset built so far was transferred to “Infurnia Technologies Private Limited”. Infurnia also launched the first modular kitchen design software, mainly targeted at modular kitchen studios.
  
• 2017: The product was expanded to a broader interior design software.
  
• 2018: The product was further expanded to an even broader architecture design software encompassing building design and interior design including modular kitchen design.
  
• 2019: Infurnia launched architecture design software with co-designing and version control as collaborative features which we believe to be first of its kind.
  
• 2019: Application filed for removing name of Infurnia Services Private Limited from Register of Companies due to inoperative since the date of operation and approved by ROC and strike off.
  
• 2020: Infurnia shifted from a web-only application to web-first application. It started working towards a native multi-platform approach that would enable building native applications for multiple desktop, tablet, mobile, virtual reality and server platforms in time to come.
  
• 2021: Infurnia was once again release in the new avatar and started marketing mainly to business enterprise in India.
  
• 2022: Infurnia acquired first few enterprise clients after a long gap.
  
• 2022: The name of the company is changed to “Infurnia Holdings Private Limited”.
  
• 2022: The Private Limited got converted to Public Limited and name changed to “Infurnia Holdings Limited”.
  
• 2022: The company got shareholders’ approval for raising the fund through Initial Public Offer (IPO) and get Listed on the STARTUPS Platform of BSE Limited.