• Flipspaces raised $35 million to expand in India, the US, and the UAE, enhance technology, and pursue acquisitions.
  • The company has delivered over 8 million sq. ft. of commercial space and achieved profitability in India and the US.
  • In FY24, revenue grew 90% to $22.8 million, while losses narrowed to $960,000.

Mumbai-based interior design startup Flipspaces has secured $35 million in a funding round led by Iron Pillar, with participation from Prudent Investment Managers and Synergy Capital Partners. 

The round, which included both primary and secondary capital, will support Flipspaces’ growth in India, the US, and the UAE, bolster its proprietary technology, and enable potential acquisitions.

The transaction also facilitated an exit for early investor Carpediem.

Founded by Kunal Sharma, Flipspaces operates a tech-first platform integrating design, supply chain management, and project execution, targeting the SMB segment that makes up 60% of the commercial design market. 

The company’s proprietary tools offer immersive 3D visualisation, real-time project tracking, and supply chain integration, enhancing client experience and operational efficiency.

Flipspaces has delivered over 8 million sq. ft. of commercial space for more than 1,000 clients globally, including SMBs, large enterprises, co-working spaces, and retail brands. 

The startup claims to have scaled to $40 million (about Rs 340 crore) in revenue, with 20% generated from the US, and has achieved profitability in both India and the US. 

The company is now expanding into the UAE, tapping into the region’s growing demand for premium commercial real estate solutions.

In FY24, Flipspaces reported an operating revenue of $22.8 million (₹190 crore), a 90% increase from $12 million (₹100 crore) in FY23, while losses narrowed to $960,000 (₹8 crore) from $2.28 million (₹19 crore) the previous year.

The company has maintained a strong 65% CAGR over the past four years, driven by its tech-led, scalable model.

Flipspaces’ latest funding round underscores investor confidence in its vision to transform commercial interior design globally through technology, integrated solutions, and customer-centric execution.

Edited by Annette George