Launched in September 2015 by Mr. Shailesh Goswami, Foyr is a company which creates an immersive and impressive 3D model of any given space by using the potential of 3D visualization technology and virtual reality.
Foyr’s strength lies in its unique offering of solving real life problems through the application of cutting edge technology, innovation and design that can give even a home buyer a realistic PoV (Point of View) of the space from within the property. This enlarges their experience of an international lifestyle, with the comfort of an end to end professional project management.
The man at the helm of Foyr is Shailesh Goswami, Founder and CEO. Goswami is IIT Delhi and FMS alumni and is responsible for the growth of FOYR. Goswami founded the organization with the idea to simplify and transform the Real Estate industry through the use of this innovative and path-breaking enterprise technology.
Team IncubateIND recently caught upon with Goswami and spoke with him on the journey so far
Tell us something about yourself and what Foyr does?
At foyr, we solve real life problems through technology, innovation and design. We create immersive and impressive 3D model of any given space by using the potential of 3D visualization technology and virtual reality. We help architects and interior professionals all around the globe, shape and showcase their ideas in a truly immersive and collaborative way right out of their favourite 3D software. We have recently expanded our footprint to Singapore which is a measure of both our vision and our scope on the global stage.
I started Foyr in the year 2015. I live by the late Steve Job’s belief that magic is often created at the intersection of things. I have completed my B. Tech and M. Tech from the Indian Institute of Technology, Delhi, and an MBA from FMS, Delhi. I founded the organization with the idea to simplify and transform the Real Estate industry through the use of this innovative and path-breaking enterprise technology. I have spent sixteen years in the IT industry, holding several diverse positions with some of the biggest names, both in India and the US. Prior to Foyr, I was a Senior Director of Microsoft, India.
What inspired you to do this and how has your entrepreneurship been so far?
While doing up my apartment I realized that the interior designing industry makes such little use of technology and the current processes are so disjointed and time consuming, that is where I saw a huge opportunity. Also, each time some change has to take place, usually each change takes so much time to implement. With my technology background, I started this journey to bring next generation technology tools to the design industry.
In my entrepreneurship I have learnt that with your dedication and hard work you can achieve anything and you should never give up.
What makes you so different from other players in the industry?
The Usp of Foyr lies in its proprietary technology and its products-
- Extremely lightweight yet high quality visualizations on low powered devices like Mobile or browser.
- Powered by intelligence (as you design your room, we can tell you whether it’s Vastu compliant or not and many more such examples)
- Future ready – all our products are VR ready
- End to End solution- Coupled with a strong reliable service team
Currently, in terms of market penetration where do you stand and what’s your traction till date?
At present we are looking to double our yearly revenue of 3 million dollars last year to 6 million dollars this year. We have established offices outside of India. Achitects, Interior Designers, Builders & Commercial brokers are our clients. Our major traction gaining product is Magiktour which is used by Architects and Interior Designers. It helps Designers & Architects in presenting designs right out of software (fastest million dollar product).
What challenges did you face the most during this and how do you plan to overcome them?
Foyr was founded in the year 2015. Initially there were three major challenges for me, first was to get together the right things, secondly to find the right product which is a market fit and last but not the least Manage rapid expansion. I think you need to talk to someone about the plans and problems you are going through. That is how you can get solutions to your problems and get more ideas. We had good investors and friends both always pitched in to help us and keep the motivation high. Earlier in 2015, Foyr was a B2C company. In 2016 there was a draught of VC venture capital money. That was the turning point because it forced us to focus on what we are good at i.e. technology and also increase our revenues as we were on our own.