Flipspaces Secures Rs 50 Crore Funding for Expansion in Commercial Interior Design

Flipspaces, a notable name in commercial interior design, has successfully raised Rs 50 crore (approximately $5.9 million) from Asiana Fund. This recent funding round follows an earlier $35 million investment obtained last month.

The newly acquired funds will be utilised to enhance operations throughout India, the United States, and the UAE, strengthen its proprietary technology platform, and explore strategic acquisitions within related sectors.

About Flipspaces

Established in 2015 by Kunal Sharma and his team, including Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan, Flipspaces offers comprehensive interior design and execution services targeted at commercial spaces. The company’s technology-driven services encompass space visualisation, project management tools, and product sourcing capabilities.

Insights from Co-founder

Kunal Sharma, Co-founder and CEO of Flipspaces, highlighted the significance of Asiana’s extensive experience in fostering operational scalability and client-focused brands. Their insights are anticipated to assist the leadership team in refining strategy and execution.

Achievements of Flipspaces

Flipspaces claims to have successfully transformed over 8 million sq. ft. of commercial spaces, catering to more than 1,000 clients worldwide, which include small and medium-sized businesses (SMBs), large enterprises, co-working spaces, and retail brands. The firm’s proprietary tools offer immersive visualisations and remote project oversight via 360-degree views, significantly enhancing client experience and operational productivity.

Financial Performance

While Flipspaces has yet to submit its annual financial report for FY25, the company recorded an operating revenue of Rs 190 crore in FY24, a remarkable 90% increase from Rs 100 crore in FY23. Additionally, the company managed to reduce its losses to Rs 8 crore in FY24, down from Rs 19 crore in FY23.