Astarc Ventures invests INR 6 Crores in online home décor company Renderlogy

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Disruptive interior designing software developed by Microsoft & IIT Delhi Alumni and successful interior designer targets builders and home owners

Astarc Group, a diversified group with presence in automotive, retail, agro, infrastructure, verticals has launched an early stage fund called Astarc Ventures to support Indian entrepreneurs and build the ecosystem.

As their first investment, Astarc Ventures has invested Rs. 6 crore in Hyderabad based Renderlogy, a company into Online Home Décor.

Astarc Ventures is part of a US$ 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, internet of things, digital communication, 3 D printing, data analytics areas.

Renderlogy was founded by Shailesh Goswami and Brinda. Shailesh Goswami is a graduate from IIT Delhi, with an MBA from FMS. He was a Senior Director at Microsoft. Brinda was running a successful Interior designing practice, called Infinite Ideas Interiors.

In its founding year, Renderlogy started developing software which would automate interior designing. According to Shailesh Goswami, “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”.

Initially, the company rendered Interior Designing, Execution and Technology enabled design services. Post Astarc’s Investment the company plans to launch a B2C portal which any consumer across India can use and in simple few clicks design their house. Going forward, the company will focus on building the technology, as well as creating a community and enabling them. For the coming year, the company will be focusing more on the technology, portal development and community building.

For the first time in India, one can visualize his/her home in a user friendly way online, and in a very photo realistic manner. The technology will be available online and also as a mobile app.

Astarc chose this company because it has great entrepreneurs and a solid team behind them. They have developed a world-class product in a short span of time. They have proven the concept with builders already and are now launching an online consumer version of the same.

According to Salil Musale, Co-Founder Astarc Ventures, “We evaluated the idea based on a) the size and attractiveness of the market opportunity, b) leadership potential, vision and passion of the founder c) traction made so far”.

Currently there are no direct competitors to this concept in India. Potential competition could be from online furniture companies, home décor companies and that too in the future. The online consumer version is slated to be launched in June 2015.

 Interior decorator services were being used only by a few premium segment home owners so far. 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” says Brinda, Co-Founder of Renderlogy.

Renderlogy was started in March 2014 with an initial investment by the 2 promoters of Rs. 35 lakhs. Post that the company had raised a round of funding in 2014.

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Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

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