Flipspaces, a commercial interior design startup, has raised Rs 50 crore, or approximately $5.9 million, from Asiana Fund.
A $35 million round was raised last month, and this is an extension of that.
The new funding will be utilized to evaluate strategic acquisitions in related industries, expand operations throughout India, the US, and the UAE, and fortify its in-house technology platform.
Flipspaces, a full-stack interior design and execution company for commercial spaces, was founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan. Space visualization, project management tools, and product sourcing capabilities are all part of the company’s tech-enabled offering.
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.”
Over 1,000 clients worldwide, including SMBs, major corporations, co-working spaces, and retail brands, have reportedly benefited from Flipspaces’ more than 8 million square feet of commercial space deliveries. Its in-house tools improve client satisfaction and operational effectiveness by enabling immersive visualizations and remote project monitoring via 360-degree views.
Flipspaces recorded operating revenue of Rs 190 crore in FY24, a 90% increase from Rs 100 crore in FY23, even though the company has not yet submitted its annual financial report for FY25. In FY24, the company’s losses decreased from Rs 19 crore in FY23 to Rs 8 crore.
