Commercial interior design startup Flipspaces has raised INR 50 crore (about $5.9 million) in funding from Asiana Fund as part of a larger $35 million funding round.
The new funding will help Flipspaces grow its business in India, the US, and the UAE. It will also be used to improve its in-house technology platform and explore buying other companies in related fields.
Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan. The company offers complete interior design and setup services for offices and other commercial spaces.
Its tech-based services include 3D space visualization, tools to manage projects, and help with finding and ordering design materials.
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 says it has designed and completed over 8 million square feet of commercial space for more than 1,000 clients around the world. These include small businesses, large companies, co-working spaces, and retail brands.
The company uses its own special tools to give clients a 360-degree view of their spaces, allowing them to see designs in a realistic way and track progress remotely. This helps improve both the customer experience and how smoothly projects are run.
Flipspaces hasn’t shared its financial report for FY25 yet, but in FY24, the company earned INR 190 crore in operating revenue — a 90% jump from INR 100 crore in FY23. It also cut its losses, bringing them down to Rs 8 crore in FY24 from INR 19 crore the year before.
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