Commercial interior design startup Flipspaces has raised $50 million in its Series C funding round from investors including from UAE-headquartered CE-Invests, Singapore’s Panthera Growth Partners, and Japan’s SMBC Asia Rising Fund (Japan), per an announcement.
The round was completed in three tranches. In May, the company raised $35 million through a combination of primary and secondary capital in a round led by Iron Pillar, which also facilitated a full exit for early-stage investor Carpediem. The following month, it secured an additional Rs 50 crore (approximately $5.5 million) from the Asiana Fund.
Founded by Kunal Sharma and Ankur Muchhal in 2015, Flipspaces offers a one-stop solution for the discovery, design, and delivery of commercial spaces for small and medium enterprises (SMEs), startups, and co-working spaces. It provides a tech-enabled approach through its technology suite, powered by VR and a tech-based gaming engine.
The Mumbai-based company will use the fresh funds to scale its business in India, the US, and UAE, deepen supply-chain integration, and enhance the company’s proprietary technology stack with AI-led interventions. Strategic acquisitions in adjacent categories are also on the road map.
With operations across India, the US, and UAE, Flipspaces claims to have delivered more than 1,000 projects covering over 8 million square feet.
According to Tracxn, the firm last raised $4 million in its Series A round of funding in 2023.
The interior design and home furnishing market in India, which is pegged to be worth around $31 million, has attracted considerable investor interest.
In December, furniture platform WoodenStreet raised $43 million in its Series C funding round from Premji Invest. In August 2024, private equity giant Warburg Pincus bought a majority stake in Indian furniture hardware company Ebco.
Previously, furniture rental marketplace Rentomojo raised around $25 million in its ongoing Series D and D1 funding rounds led by Edelweiss. In September, Mumbai-based interior design startup Flipspaces raised $4 million in its pre-Series B funding round led by Prashasta Seth, former CEO of IIFL AMC.
