Flipspaces Secures ₹50 Crore To Reinvent Commercial Interior Design Through Tech-Led Innovation
Mumbai-based commercial interior design and build startup Flipspaces has raised ₹50 crore (approximately $5.9 million) in fresh funding from the Asiana Fund, an investment vehicle backed by Jalaj Dani, promoter of Asian Paints. The round also included current investors Synergy Capital Partners, Iron Pillar, and a consortium led by Prashasta Seth.
This capital infusion is a continuation of Flipspaces’ recent $35 million round and will allow the company to accelerate its growth in India, the United States, and the UAE. Flipspaces will use proceeds to enhance its proprietary tech offerings, increase its operational footprint, and pursue strategic acquisitions of companies in adjacent verticals to widen its capability to offer an integrated solution stack.
Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan, Flipspaces is recognized for offering a full-suite design and turnkey execution service in the commercial real estate sector. The heart of their offering is their technology stack, which leverages proprietary space visualization tools, a project management platform, and product sourcing and invoicing offerings. These advantages will help digitize the interior buildout journey, from creative accuracy to execution efficiency.
“The Asiana team has deep experience in building customer centric scalable brands, and their expertise and resources will be invaluable as we amp up design innovation and elevate immersive client experiences,” said Kunal Sharma, Founder & CEO, Flipspaces.
The startup will leverage its immersive design capabilities and apply 360-degree remote monitoring tools to up the ante in client engagement by allowing stakeholders to virtually walk through designed spaces and track project completion in real time.
“We’re truly impressed by the Flipspaces platform—it blends form, function, and digital finesse in transforming commercial interiors. Asiana is excited to support their next phase of growth,” said Jalaj Dani, sponsor of Asiana Fund.
Flipspaces has delivered over 8 million square feet of commercial interiors globally, servicing over 1,000 clients ranging from SMEs and enterprises to coworking brands and retail giants.
“With Asiana joining our investor group, we’re confident in scaling Flipspaces’ vision further and establishing it as a global leader in tech-enabled commercial interior design,” said Apurva Patel, CIO and Managing Partner, Synergy Capital Partners.
On the financial front, the company reported ₹190 crore in revenue for FY24, a sharp 90% increase from ₹100 crore in FY23, while significantly narrowing its net loss from ₹19 crore to ₹8 crore.
As India’s architectural and design industry continues to embrace digital transformation, Flipspaces is positioning itself at the confluence of technology, design, and execution—paving the way for a more intelligent and immersive approach to commercial interior architecture.
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