Product Design Startup Figr Bags $2.25 Mn From Kalaari Capital, Others

Bengaluru-based product design startup Figr has raised $2.25 Mn (about INR 18.8 Cr) in its seed funding round led by venture capital firm Kalaari Capital. The funding round also saw participation from Antler, VC firm Golden Sparrow, and angel investors. 

In a statement, the startup said it would use the funds to improve its custom AI-powered models for UI/UX designing and bolster its product and growth teams.

Founded by Moksh Garg and Chirag Singla in 2023, Figr is an AI-driven design platform that helps customise UI (user interface) and develop personalised design token and language on the basis of user’s input. The startup claims to save both design time and cost with the help of AI and automation. 

Figr claims to have over 75,000 users, of which 80% are based outside India. It was among the startups selected for Google’s first cohort of ‘Google for Startups Accelerator: AI First’ earlier this year.

The startup also featured in Inc42’s ‘30 Startups To Watch’ edition of October 2023.

Commenting on the fundraise, cofounder Singla said, “Our vision is to empower every design team to create beautiful and functional interfaces without being bogged down by tedious, repetitive work. This funding gives us the momentum we need to continue refining our AI technology and to expand our offerings globally.” 

Figr is targeting freelancers, design studios and design teams at startups to further expand its user base. It aims to cater to teams of all sizes in the future with the fresh capital. 

The development comes at a time when AI, particularly GenAI, has taken the world by storm. As a result, a number of GenAI startups have emerged in the country over the last few years. These startups are leveraging AI to provide various services.

India has more than 100 AI startups that raised more than $600 Mn between 2019 and H1 2024. As per Inc42 data, the Indian GenAI ecosystem is projected to become a $17 Bn market opportunity by 2030 on the back of the growing adoption of the emerging technology. 

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