Funding Alert

Figr Raises $2.25 Million in Seed Funding to Revolutionize AI-Powered Product Design

• ByStartupStory     |    October 9, 2024

Figr, an innovative AI-based product design startup, has successfully raised $2.25 million in a Series A funding round led by Kalaari Capital. This funding round also saw participation from Antler, Golden Sparrow, and several angel investors.

The newly acquired funds will be utilized to enhance Figr’s core technology, particularly in developing custom AI models tailored for user interface (UI) and user experience (UX) design. Additionally, the investment will allow the startup to expand its product and growth teams, according to a statement from the company.

Figr co-founder and CEO Moksh Garg expressed the startup’s vision, stating, “We saw designers spending weeks on research and wireframing before even starting the creative work. Figr can make this process 10 times faster by handling the non-creative tasks, allowing designers to focus on what they do best.”

Founded in 2023 by Moksh Garg and Chirag Singla, Figr leverages advanced AI technology to assist product teams in creating high-quality UI/UX designs. The Bengaluru-based startup aims to streamline the design process by transforming rough ideas into fully functional designs, effectively addressing the common bottlenecks in the design workflow.

According to the company, Figr has enabled product teams to shorten design timelines and reduce costs by automating repetitive tasks and facilitating rapid prototyping. The platform has reportedly garnered around 75,000 signups and processed over 500,000 queries. Notably, around 80% of its users are based outside India.

Sampath P, Partner at Kalaari Capital, highlighted the platform’s capabilities, saying, “With its ability to blend collective human feedback and deep personalisation, AI will transform design into a more dynamic and iterative process. The (Figr) platform seamlessly integrates with existing design workflows, driving significant gains in productivity and efficiency. We at Kalaari are thrilled to partner with them on their journey, as they shape the future of product design and unlock enormous value for designers worldwide.”

As part of its growth strategy, Figr is targeting a diverse audience of designers, including freelancers, design studios, and design teams within startups. The startup was also selected for the ‘Google for Startups Accelerator: AI First’ cohort this year, marking a significant milestone in its journey.

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