Flipspaces, an interior design startup, has raised another $9 million (about INR 79 crore) in its extended Series C funding round. The money came from CE-Invests, Panthera Growth Partners, and SMBC Asia Rising Fund.
With this, the company has now raised a total of $50 million (around INR 440 crore) in this round. Other investors in the round include Iron Pillar, Asiana Fund, Prudent Investment Managers, and Synergy Capital.
The funding round also allowed Carpediem Capital, one of Flipspaces’ first investors since 2018, to exit the company.
Flipspaces Founder & CEO Kunal Sharma said the new funds will be used for three main focus areas.
“First, we aim to double down on technology, especially AI-powered software for the interior design and build domain, which we’ve already started developing. Second, growth capital will help us expand into more geographies in India and the US. Third, we plan inorganic acquisitions, targeting strong legacy companies in the US, UAE, and India to enhance their scale and EBITDA with our technology and processes,” Sharma added.
“Their tech-driven approach and scalable model make them a strong contender to lead the market,” said Shilpa Kulkarni, Founder and Managing Partner at Panthera Growth Partners.
Flipspaces’ ability to scale profitably across India and the USA, while deploying AI and VR to transform a traditional sector, exemplifies the kind of opportunity we are committed to backing. With the UAE as its launchpad for expansion into the wider MENA region, Flipspaces is uniquely positioned to bridge the Asia-UAE-USA innovation corridor,” noted Ghada Abdelkader, senior vice president of CE-Invests.
Flipspaces, founded in 2011 by Kunal Sharma, Ankur Muchhal, Vikash Anand, and Mrinal Sharma, is a technology-driven commercial interior design platform that mainly serves SMBs and competes with companies like Livspace, HomeLane, and Bonito Designs.
Currently, the U.S. contributes 20% of its revenue, and both its India and U.S. businesses are already profitable. The company is now looking to expand into the UAE.
So far, Flipspaces has designed and delivered more than 8 million sq ft of space for over 1,000 brands, growing at a 65% CAGR over the last four years.
Its in-house tools offer 3D visualization, supply chain integration, and real-time project tracking, serving both SMBs and large enterprises.
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