Illustration of living room interior design. Freepik
Blockchain is constantly entering into a wider range of business sectors. The interior design and furniture purchasing startup DecorMatters has just raised $10 million to carry on with the advancement of their innovative and already well-known iOS app.
The recently finished funding round was led by ZenStone Venture Capital, which will aid in extending DecorMatters’ work into AI and AR technology across the interior design sector.
DecorMatters was founded in 2016 and is one of the leaders in providing customers with AI and AR technology for their interior design ideas. The ‘Decor Matters: Design & Shop’ app is used by four million people who design and share their spaces, and buy furniture directly from their phones.
Furniture customers are experiencing a real innovation in their home remodeling activities. With the AR tech integrated into the app, users can easily visualize how their rooms will look with the furniture they intend to buy.
More than 25 merchants are included in the offerings list, some of the biggest being Overstock, Wayfair and Pier One. Professional interior designers also use the app, as more than 100,000 experienced designers have committed 750,000 projects to the platform.
Mingfeng (Farris) Wu, CEO and co-founder of DecorMatters shared the company’s mission after the funding:
“With the new funding, DecorMatters is advancing our AI & data technology to deeper and wider ranges to build an even more enjoyable experience from idea discovery, interior designing, to furniture shopping for our users. Moreover, we are about to develop the world’s first blockchain technology for the furniture industry to create an ad-hoc collaboration and profit-sharing mechanism among interior designers, shoppers, and furniture businesses at scale.”
Clients using the blockchain ledger would be able to create unique designs, side by side with experienced interior designers. A profit-sharing model will be used so that the latter receive a cut of sales.
Users of the app can collect furniture recommendations through its built-in personalized AI technology. Currently, this massive development of the furniture sector is valued at more than $600 billion.
Through DecorMatters, users can connect while choosing among the latest furniture offerings and interior design projects. When it comes to customer experience of designing and purchasing furniture DecorMatters is among the top options. This funding of $10 million will be a great move forward, helping with their growing their client base of design-oriented people.
“After experiencing the frustration of DIY interior design ourselves, we were eager to adopt cutting-edge technology to fix the broken system and make it easier, faster, and cheaper for all consumers. That’s why we founded DecorMatters,” clarified Farris, adding:
“Now, with over 400% year-to-year growth, we’re looking forward to seeing what new trends and designs come next – and how we can help each user build their dream interiors with DecorMatters’ help.”