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Flipspaces Has Secured $35 Mn in Funding Round
An Interior design startup, Flipspaces based in Mumbai, has raised $35 million in a funding round recently. The funding round was led by Iron Pillar, Prudent Investment Managers and Synergy Capital Partners also contributed.
Summary:
1. Flipspaces, an interior design startup, has raised $35 million in a funding round led by Iron Pillar, Prudent Investment Managers, and Synergy Capital Partners. The funding will be used to boost growth in India, The US, and the UAE, optimizing tech features and discovering potential collaborations.
2. The round also cleared an exit for early-stage shareholder Carpediem. Flipspaces, founded by Kunal Sharma, offers a tech-first platform that incorporates design, supply chain management, and project completion.
3. The company has grown to $40 million in revenue and provides over 8 million square feet of commercial space to over 1,000 clients worldwide.
The startup funding includes both primary and secondary investment and will be leveraged to boost the growth in India, the US, and the UAE, optimizing tech features and discovering potential collaborations.
The round also cleared an exit for early-stage shareholder Carpediem.
Back then in September 2023, Flipspaces, the interior design startup secured $4 million in its pre-series B funding round led by Prashasta Seth and others.
What is Flipspaces?
Flipspaces, founded by Kunal Sharma is a tech-first platform that incorporates design, supply chain management, and project completion, addressing the SMB segment, which consists of 60% of the design market.
The firm claims to have grown to $40 million (about Rs 340 crore) in revenue, employs technology to deliver end-to-end design and construct solutions, and is profitable in both India and the United States, where it produces 20% of its income.
The startup claims to have provided over 8 million square feet of commercial space to over 1,000 clients worldwide, including SMBs, large businesses, co-working spaces, and retail brands. Its patented tools provide immersive visualizations and remote project monitoring via 360-degree views, hence improving customer experience and managerial effectiveness.
Although the startup has yet to release its annual financial report for FY25, it reported operational revenue of Rs 190 crore in FY24, up 90% from Rs 100 crore in FY23. However, it reported a loss of Rs 8 crore in FY24, which was less than half of the Rs 19 crore loss in FY23.
The interior design firm is developing a technology-driven brand to improve customer experience in commercial design and build around the world. Our belief is in rapid and sustainable scaling, driven by a reversible, tech-powered delivery strategy that balances growth and profitability. We are grateful to our new and old investors for believing in our mission, and we are thrilled about what lies ahead. “The journey is just beginning,” said Kunal Sharma, Founder and CEO of Flipspaces.
Flipspaces’ latest $35 million fundraising round is more than just a financial milestone; it represents a shift in how technology-driven businesses are transforming legacy sectors like interior design. Flipspaces, with investors such as Iron Pillar and Synergy Capital Partners, and a strategy based on immersive technology and efficient project delivery, is on the verge of relaunching commercial interiors in India, the United States, and the United Arab Emirates. This round also saw the exit of early investor Carpediem, demonstrating strong confidence in investors. As Kunal Sharma, Founder and CEO, properly stated, “The journey is just beginning,” indicating further worldwide ambitions.
