Bengaluru-based FIGR leveraging AI to transform the product design process has raised $250,000 in a pre-seed funding round from early-stage investment firm Antler India.
The development comes a week after Antler India raised Rs 500 crore of its targeted Rs 600 crore ($75 million) for its maiden fund. The firm is aiming to make the final close this quarter.
What is the purpose of fundraising?
According to the company’s statement, The raised capital would be utilized for the development of Figr’s AI-powered platform that acts as a co-pilot for design teams to streamline ideation, design research, interface design, and front-end development.
Additionally, The startup will focus on growing its engineering team and continue to evolve its product to solve different parts of the design process. It also plans on investing in training powerful and versatile generative design models.
What does Figr do?
Figr was founded by Moksh Garg and Chirag Singla in 2023 to reduce the friction in creating digital products by using AI to strengthen design research, rapidly iterate interfaces, and enable collaboration with the aim of making product design more accessible.
The startup claims to have garnered over 30,000 users with over 100,000 design research queries.
Moksh Garg, co-founder and CEO of Figr, said, “Traditional design workflows are fragmented across multiple tools and stakeholders, leading to slow and disjointed product development process. Often there are multiple rounds of design changes between the designers and product owner resulting in long timelines.”
Moksh said the company aims to unify the entire journey from design research to deployment, enabling easy collaboration between the stakeholders.
Chirag Singla, co-founder and CTO of Figr, said, “Through our experience building several consumer apps, we’ve realized how complex and time-consuming building even a simple mobile app can be. There are repetitive and non-creative tasks undertaken by designers and developers during the process.”
According to Rajiv Srivatsa, Partner at Antler India, said, “Design discoverability space has largely lacked innovation but the recent developments in Generative AI present an opportunity to reimagine it from the ground up. We are excited to partner with Moksh and Chirag who are using their deep experience in product design and AI to build a one-stop product design ecosystem, from research to development.”
What does Antler India do?
Antler India is a branch of the global Antler franchise, specializing in pre-seed investments. It operates with a cohort-based approach, aiding single founders in connecting with potential co-founders and assisting existing teams with initial products.
The firm is sector-agnostic and aims to reflect the directions in which founders are moving, leveraging global networks to back companies that align with their themes.
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