Flipspaces, a tech-led commercial design and build venture, has raised $35 million in primary and secondary capital in a Series C funding round led by Iron Pillar, a tech growth investor.
The round also saw participation from existing investors, including Prudent Investment Managers and new investors Synergy Capital Partners. The round also sees Carpediem, who are the early-stage investors in Flipspaces, make an exit.
The fresh capital raised will be used to accelerate growth across India, U.S. and UAE, strengthen Flipspaces’ technology and brand leadership, and explore inorganic growth opportunities in new geographies and adjacent categories.
Founded in 2014 by Kunal Sharma, Ankur Muchhal, Vikash Anand and Mrinal Sharma, Flipspaces operates a tech-first platform that provides a fully integrated, tech-first design and build solution focused on the SMB (Small and Medium Business) segment, which accounts for approximately 60% of the total interior design and build market for commercial spaces.
Flipspaces streamlines operations, accelerates project timelines, and is built for client delight. Proprietary tools such deliver immersive visualisation experiences, enabling clients to visualize their spaces before execution. Flipspaces’ supply chain technology provides access to a backwards-integrated, quality-assured online catalog featuring in-house manufactured and leading market products and finishes. Additionally, the newly launched project management platform allows clients to remotely monitor site execution through 360-degree views, offering real-time oversight from the comfort of their offices or homes.
While continuing to solve for the SMB segment, Flipspaces has also carved out a vertical for design and build mandates for large enterprises having serviced several high-pedigree global MNCs differentiated by tech-led client delight and speed in that category.
The one-stop-brand play has been validated in the US as well, which contributes to 20% of the overall revenue. India and the USA are individually profitable as per reports from the company. They are also expanding to the UAE, which has evolved into a global commercial real estate hub.
The tech-led and integrated model has enabled Flipspaces to scale at over 65% CAGR in last 4 years while maintaining profitable execution-delivering over 8 million sq. ft. of commercial spaces for 1000+ brands across India and USA. Today, Flipspaces operates as a strategic partner for large enterprises, SMBs, co/managed working spaces, builders, retail chains and FnB brands managing the design and build globally.
“At Flipspaces, we’re building a technology-led brand aimed at transforming the customer experience in commercial design and build, globally. Our conviction lies in scaling with both speed and sustainability driven by a replicable, tech-powered delivery model that balances growth with profitability. We’re deeply grateful to our incoming and existing investors for their belief in our vision and we’re excited for what’s ahead. The journey is just getting started,” said Kunal Sharma, Founder and CEO of Flipspaces.
Ashok Ananthakrishnan, Partner, Iron Pillar, said, “We recognized that this large and growing market was burdened by inefficiencies stemming from fragmented supply chains, operational complexity, and limited technology adoption. Flipspaces has scaled to USD 40 million in revenue in a capital-efficient manner. With their tech-first platform spanning design, supply chain, and project management, we believe they are well positioned to build a leading franchise across India, the GCC, USA, and other global markets, and to establish a large, enduring company.”
“We continue to be extremely bullish about Flipspaces. Our initial thesis of a technology led model disrupting the commercial real estate design and build market is playing out. Use of technology to ensure better execution and seamless customer experience has resulted in profitable and sharp growth for Flipspaces. We think that the best years of Flipspaces are ahead as it ramps up its supply chain and technology,” said Prashasta Seth, Founder of Prudent Investment Managers.
Apurva Patel, CIO and Managing Partner, Synergy Capital Partners, said, “We take pride in our association with Flipspaces as they have fundamentally changed the customer-experience in an antiquated market.”
