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Interior design startup Flipspaces raises $35 Mn

EntrackrEntrackr · 4m ago
Interior design startup Flipspaces raises $35 Mn
Medial

Mumbai-based interior design startup Flipspaces has raised $35 million in a funding round led by Iron Pillar. Prudent Investment Managers and Synergy Capital Partners have also participated. The funding includes both primary and secondary capital and will be used to ramp up growth in India, the US, and the UAE, enhance technology capabilities, and explore potential acquisitions. The round also facilitated an exit for early-stage investor Carpediem. Earlier in September 2023, Flipspaces had raised $4 million in its pre-Series B round led by Prashasta Seth and others. Founded by Kunal Sharma, Flipspaces operates a tech-first platform that integrates design, supply chain management, and project execution, targeting the SMB segment, which constitutes 60% of the commercial design market. The startup claims to have scaled to $40 million (approximately Rs 340 crore) in revenue, uses technology to provide end-to-end design and build solutions and has achieved profitability in both India and the US, where it generates 20% of its revenue. 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. However, it also recorded a loss of Rs 8 crore in FY24, less than half of the Rs 19 crore loss in FY23.

Flipspaces raises $50 Mn in expanded Series C round

EntrackrEntrackr · 2d 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.

Flipspaces raises Rs 50 Cr from Asiana Fund

EntrackrEntrackr · 2m 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.

Buoyed by its tech-focused approach, Flipspaces touches Rs 300 Cr ARR

YourStoryYourStory · 1y ago
Buoyed by its tech-focused approach, Flipspaces touches Rs 300 Cr ARR
Medial

Interior design tech venture Flipspaces has achieved a 70% compound annual growth rate (CAGR) over the past three years, with a revenue run rate of INR 300 crore. By integrating cutting-edge technology into its workflow, Flipspaces has transformed the way commercial spaces are designed and built, enhancing operational efficiency and customer satisfaction. The company's proprietary tech-suite, VIZWORLD, streamlines the interior design and build process through modules such as VIZDESIGN, VIZWALK, VIZCART, and VIZCLIENT. These tools enable better project management, visualisation, supply chain management, and client communication. Flipspaces aims to revolutionize the interior design and build category through innovative technology solutions.

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