[Update] Flipspaces Bags $9 Mn, Takes Extended Series C Round Size To $50 Mn

Update | September 8, 17:40 IST

Interior design startup Flipspaces has raised an additional $9 Mn (around INR 79 Cr) in its extended Series C round from CE-Invests, Panthera Growth Partners and SMBC Asia Rising Fund.

With this, the startup has now raised $50 Mn (about INR 440 Cr) in the current round. Iron Pillar, Asiana Fund, Prudent Investment Managers and Synergy Capital are among the other investors who were part of the round.

In a statement, Flipspace said that the round also provided exit to its early investor, Carpediem Capital. The PE fund made its first investment in the startup in 2018.

Original | June 26, 12:14 IST

Interior design startup Flipspaces has raised INR 50 Cr ($5.9 Mn) from Asiana Fund as a part of its $35 Mn funding round.

This $5.9 Mn investment is in addition to the $35 Mn raised last month through a mix of primary and secondary capital, led by Iron Pillar, with participation from Prudent Investment Managers and Synergy Capital.

Flipspaces plans to use the fresh capital to fuel its next phase of growth for expanding its presence across India, the US and UAE, strengthening its proprietary tech stack and enabling strategic acquisitions.

“Asiana team’s collective experience of over 10 decades in scaling operations and building customer-centric brands will be invaluable to Flipspaces. Our core team will benefit tremendously from their insights and assistance,” said Flipspaces founder and chief executive Kunal Sharma.

Founded in 2011 by Kunal Sharma, Ankur Muchhal, Vikash Anand and Mrinal Sharma, Flipspaces offers a tech-first, end-to-end commercial interior design platform, primarily catering to small and medium businesses (SMBs). It competes with players like Livspace, HomeLane, and Bonito Designs.

The startup claims that the U.S. currently contributes 20% of its total revenue. According to the company, operations in both India and the U.S. are already profitable, and it now aims to enter the UAE market.

Flipspaces main Indian rivals are Livspace, HomeLane, and Bonito Designs, among others.

Flipspaces has delivered over 8 Mn sq ft of space to more than 1,000 brands, growing at a CAGR of 65% over the past four years. Its proprietary tools support 3D visualisation, supply chain integration, and real-time project tracking. The company targets both SMBs and large enterprises as part of its growth strategy.

In 2023, it secured $4 Mn in a Pre-Series B roundled by Prashasta Seth, founder of Prudent Investment Managers fund, two years ago.

As per Grand View research, the interior design software market is estimated to reach $11.74 Bn by 2030, driven by factors like the increasing demand for advanced visualisation tools, AI integration and cloud-based solutions.

Flipspaces rival Livspace, for instance, raised $180 Mn in a 2022 round led by KKR, which valued it at $1.2 Bn.

The broader interior design-tech industry has been witnessing renewed investor interest, driven by growing demand for tech-enabled design solutions.

Flipspaces now plans to go public by 2026 and is among the early startups pursuing a reverse flip approval through the fast-track mechanism.

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