Investment in commercial interior design company Flipspaces amounts to $50 million in a Series C funding round
Flipspaces, an interior design and build company, has announced a successful Series C funding round, securing an additional $50 million. This brings the cumulative Series C capital raised by the company to over $85 million.
Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, and Mrinal Sharma, Flipspaces operates with a platform-driven model that connects business development, design, supply chain, and project management. The latest round was led by Iron Pillar, with support from Synergy Capital Partners and Prashasta Seth. New investors CE-Invests from the UAE, Panthera Growth Partners of Singapore, and Japan's SMBC Asia Rising Fund also participated in the funding.
The proceeds from the Series C funding will be deployed in three areas: strengthening Flipspaces' proprietary technology, scaling geographic footprint, and pursuing acquisitions in the United States, the UAE, and India. The company is developing artificial-intelligence software to improve efficiency, cost transparency, and timely delivery in the interior design and build industry.
Flipspaces' enterprise resource planning system allows for immersive virtual-reality walkthroughs, enabling clients to visualize and modify spaces in real time. This innovative technology has helped the company secure large enterprise clients such as Adani, Genpact, and Larsen & Toubro.
In India, Flipspaces has focused largely on office design, while in the United States, it has worked extensively with restaurants and cafes. The company's portfolio spans over 1,000 projects covering more than eight million square feet across India, the United States, and the UAE.
The expansion will occur across these three regions. The latest round enabled an exit for early investor Carpediem Capital. This funding round was a follow-up to a $35 million investment earlier this year.
With this new funding, Flipspaces is poised to make significant strides in the interior design and build industry, leveraging technology to streamline processes and deliver high-quality projects to its clients. Kunal Sharma, founder and CEO of Flipspaces, expressed his excitement about the future, saying, "We are thrilled to have the support of our new and existing investors as we continue to innovate and grow."
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