Flipspaces raises ₹50 crore for commercial interior design

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Mumbai-based startup Flipspaces raises ₹50 crore in fresh funding—roughly $5.9 million—and it’s not from just anyone. The money comes via the Asiana Fund, helmed by Jalaj Dani of Asian Paints fame. That’s on top of a hefty $35 million they closed last month. Flipspaces isn’t just expanding—they’re out to dominate the commercial design world across India, the U.S., and the UAE. But it’s not just about scale. The funding is also aimed at juicing up their tech tools—think immersive design walkthroughs and real-time project tracking dashboards—and scouting for acquisitions.

Founded in 2015, Flipspaces isn’t your run-of-the-mill interior design outfit. It’s tech-first, blending virtual design, supply chain, and execution under one digital roof. So far, they’ve delivered a staggering 8 million square feet of commercial space for more than 1,000 clients globally—from coworking hubs to retail chains.

And the numbers? In FY24, revenue skyrocketed to ₹190 crore, a 90% bump from the previous year. Losses shrank, too, from ₹19 crore to just ₹8 crore. With IPO ambitions on the horizon and a growing footprint, Flipspaces is gearing up for something big in a $11.74 billion global industry.

1. The Funding Boost: Flipspaces Raises ₹50 Crore

1.1 Strengthening Global Expansion Plans

Big moves need big money. Flipspaces raises ₹50 crore to its war chest, thanks to the Asiana Fund. This latest injection follows hot on the heels of a $35 million round led by Iron Pillar and joined by Synergy Capital and Prudent Investment Managers. The new capital is a green light for aggressive expansion and deep tech investments.

1.2 Key Use of Funds

Where’s the money going? First up—scaling operations in India, the U.S., and the UAE. Next, enhancing their tech suite, which already includes space visualisation and project tracking. Finally, they’re eyeing acquisitions to expand their design and execution stack.

1.3 Confidence from Existing Investors

Synergy Capital’s Apurva Patel isn’t holding back. He called the Asiana Fund’s involvement a strategic win, hinting that Flipspaces is moving into a new league with sharper execution and better boardroom brainpower.

2. The Flipspaces Model: Where Design Meets Technology

2.1 Full-Stack Commercial Design Platform

Flipspaces isn’t dabbling in interiors—it’s reshaping the entire process. They’re a full-stack firm, managing everything from planning and design to execution. Clients range from bustling offices and trendy coworking spaces to major retail brands and schools.

2.2 Proprietary Tech Tools

Here’s where it gets nerdy. Flipspaces’ secret sauce is its suite of digital tools:

• 3D visualisation so vivid you feel like you’re already moved in
• Real-time project dashboards to track progress
• Integrated product sourcing that shaves off weeks
• Remote walkthroughs—because who’s got time for site visits?

The result? Less guesswork, faster delivery, and happy clients.

3. Business Model and Revenue Strategy

3.1 Revenue Streams

Flipspaces makes money in three smart ways:

• Charging clients for design + build services
• Licensing their digital platforms
• Earning commissions via product vendor tie-ups

It’s a hybrid model that plays to both tech and service strengths.

3.2 Strong Financial Performance

Last year was a turning point. Revenue surged from ₹100 crore to ₹190 crore—a 90% leap. At the same time, they slashed losses from ₹19 crore to ₹8 crore. That’s not just growth—it’s disciplined scaling.

3.3 Global Contribution

The U.S. now contributes nearly 20% of Flipspaces’ total revenue. Both India and U.S. operations are in the black, and they’re setting their sights on the UAE next.

4. Founders and Leadership

4.1 Founding Team

Flipspaces was launched in 2015 by a crew of dreamers and doers: Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan. While some early documents suggest 2011, the Flipspaces brand began taking shape four years later.

4.2 Leadership Vision

CEO Kunal Sharma isn’t shy about his ambitions. He sees Flipspaces as a disruptor—a tech engine built for commercial interiors. With the Asiana Fund backing them, Sharma believes they’re not just growing, but evolving with sharper execution and a global playbook.

5. Problem Solved by Flipspaces

5.1 Legacy Inefficiencies

Interior design used to be clunky—disconnected teams, unclear timelines, and cost overruns. Flipspaces is flipping that model. They offer:

• Visual clarity from day one
• Real-time project updates
• Fully-integrated procurement

In short, they’re turning chaos into clarity.

5.2 Enhancing Client Experience

Remote dashboards. 360-degree walkthroughs. Flipspaces makes the process as smooth as ordering food online. Clients stay in control without getting stuck in the mud of micro-management.

6. Competitor Landscape and Industry Trends

6.1 Key Competitors

Flipspaces isn’t without rivals. Top names include:

• Livspace (valued at $1.2B)
• HomeLane
• Bonito Designs

What sets Flipspaces apart? A laser focus on commercial spaces and a deep tech backbone, unlike most competitors still playing catch-up.

6.2 Industry Growth Drivers

According to Grand View Research, the global interior design software market is poised to hit $11.74 billion by 2030. Why?

• AI is reshaping how we plan and design
• Cloud tools are making collaboration easier
• Remote work has redefined office design forever

6.3 Market Outlook

From startups to legacy enterprises, every brand wants smarter, more adaptive workspaces. And they want them fast. That’s where Flipspaces is winning—speed, transparency, and a wow-factor experience.

7. Company Milestones and Growth Metrics

7.1 Workspace Delivered

To date, Flipspaces has transformed over 8 million square feet across the globe. That’s a serious footprint, and it includes:

• Startups and SMEs
• Fortune 500s
• Coworking and hybrid setups
• National retail brands

7.2 Growth Rate

They’re growing at a 65% CAGR. For a capital-heavy industry, that’s jaw-dropping. Flipspaces has hit product-market fit.

7.3 Future Plans

Their roadmap? Simple but bold:

• Double down on the U.S. and India
• Enter the UAE with intent
• Target IPO by 2026 via the reverse flip route

Learnings for Startups and Entrepreneurs

• Focus on Tech Differentiation

Don’t build what’s easy. Build what solves a pain point. Flipspaces nailed this with immersive design tech that speaks directly to client frustrations.

• Sustainable Growth Matters

Profitability isn’t overrated—it’s survival. Flipspaces cut losses while scaling revenue, a model that startups should study.

• Geographical Diversification

U.S. expansion gave them early global exposure. Indian startups must think beyond borders if they want to scale fast and smart.

• Value-Aligned Investors

Don’t just chase the highest cheque. Flipspaces gained mentors and muscle with Asiana Fund—proof that value alignment matters.

About Foundlanes

At foundlanes.com, we live for stories like Flipspaces. Stories with grit, vision, and a fair bit of tech magic. As India’s go-to platform for startup updates, we’re all about shining light on the companies pushing boundaries in design, tech, and everything in between.

Whether it’s a game-changing fundraise or a quiet pivot that turns into a breakout strategy, we’ve got it covered. Flipspaces is setting a new bar in commercial design—and we’re here to tell the world. Stick around at TheStartupsNews.com for more founders, funding, and fearless ideas.