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Flipspaces raises Rs 50 Cr from Asiana Fund

EntrackrEntrackr · 5m ago
Flipspaces raises Rs 50 Cr from Asiana Fund
Medial

Flipspaces raises Rs 50 Cr from Asiana Fund Commercial interior design startup Flipspaces has raised Rs 50 crore (around $5.9 million) from Asiana Fund. The round is an extension of a $35 million round raised last month. The fresh capital will be used to scale operations across India, the US, and the UAE, strengthen its proprietary technology platform, and evaluate strategic acquisitions in related sectors. Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan, Flipspaces provides full-stack interior design and execution services for commercial spaces. The company’s tech-enabled offering includes space visualization, project management tools, and product sourcing capabilities. Kunal Sharma, Co-founder and CEO of Flipspaces, said, “Asiana’s decades of experience in building operational scale and customer-first brands will be of immense value to us. Their insights will help our leadership team sharpen strategy and execution.” Flipspaces claims to have delivered over 8 million sq. ft. of commercial spaces for over 1,000 clients globally, including SMBs, large enterprises, co-working spaces, and retail brands. Its proprietary tools enable immersive visualizations and remote project monitoring through 360-degree views, enhancing client experience and operational efficiency. While Flipspaces has yet to file its annual financial report for FY25, the company registered an operating revenue of Rs 190 crore in FY24, a 90% increase from Rs 100 crore in FY23. The company reduced its losses to Rs 8 crore in FY24 from Rs 19 crore in FY23.

Flipspaces raises $50 Mn in expanded Series C round

EntrackrEntrackr · 2m ago
Flipspaces raises $50 Mn in expanded Series C round
Medial

Flipspaces, an interior design company, has raised $50 million in an expanded Series C round from CE-Invests (UAE), Panthera Growth Partners (Singapore), and SMBC Asia Rising Fund (Japan). The round also saw backing from existing investors such as Iron Pillar, Synergy Capital Partners, and Prashasta Seth. It also enabled an exit for early-stage investor Carpe Diem. In May, the company raised a $35 million round led by Iron Pillar. The following month, it secured Rs 50 crore (about $5.5 million) from Asiana Fund. The fresh proceeds will be used to scale operations across India, the U.S., and the U.A.E., deepen supply chain integration, and enhance Flipspaces’ proprietary technology stack with AI-driven interventions. According to the company, strategic acquisitions in adjacent categories are also on the roadmap. Founded in 2015 by Kunal Sharma, Flipspaces differentiates itself with a proprietary tech suite that integrates space planning, immersive VR walkthroughs, procurement, and turnkey execution into a single platform. This approach delivers efficiency, transparency, and timely execution in a traditionally fragmented commercial design and build sector. The company claims to have delivered over 1,000 projects spanning 8 million sq. ft., serving enterprises, startups, and SMEs across IT, retail, education, healthcare, and financial services. While Flipspaces has yet to file its annual financial report for FY25, the company registered an operating revenue of Rs 190 crore in FY24, a 90% increase from Rs 100 crore in FY23. The company reduced its losses to Rs 8 crore in FY24 from Rs 19 crore in FY23. Its competitors include traditional interior design firms and tech-driven players like Livspace and Space Matrix.

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