Figr, an AI product design startup based in Bengaluru, has successfully raised $2.25 million in a seed funding round. The funding was led by Kalaari Capital, with contributions from Antler, Golden Sparrow, and various angel investors. The startup plans to utilize this capital to enhance its AI-powered design platform and expand its product and growth teams.
The newly acquired funds will primarily be invested in improving Figr’s custom AI models, particularly for User Interface (UI) and User Experience (UX) design. Figr’s platform automates repetitive and non-creative tasks, such as wireframing and prototyping, allowing designers to concentrate on more creative aspects of their work. Co-founder and CEO Moksh Garg highlighted the efficiency boost provided by their platform, stating, “Designers were spending weeks on research and wireframing. Figr handles these tasks, allowing designers to focus on what they do best.”
Plans for Team Expansion
As part of its growth strategy, Figr will use the funding to scale its product and growth teams. The startup aims to attract a diverse array of designers, including freelancers, design studios, and startup design teams. Founded in 2023 by Moksh Garg and Chirag Singla, Figr has already gained significant traction, with over 75,000 signups and more than 500,000 queries processed on its platform. Notably, around 80% of its user base is located outside India. Figr’s goal is to achieve $1 million in annual recurring revenue (ARR) within the next year.
Figr’s AI-driven platform streamlines the design process by allowing design teams to create UI designs, build wireframes, and establish user flows more quickly. By automating repetitive tasks, Figr claims it can reduce design timelines by up to 10 times, significantly lowering costs. The platform integrates seamlessly with existing workflows, enabling design teams to deliver high-quality results in a shorter time frame.
Positive Outlook from Investors
Sampath P, a Partner at Kalaari Capital, expressed confidence in Figr’s potential, stating, “With its ability to blend collective human feedback and deep personalisation, AI will transform design into a more dynamic and iterative process.” He added, “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.”
