Interior Design and Build brand, Flipspaces, raises USD 3.5 million from Carpediem Capital
Mumbai 7th January, 2019:
Interior Design and Build brand, Flipspaces, has raised USD 3.5 million from Carpediem Capital.
Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu and Ritesh Ranjan, the Company is focusing on the USD 5 Billion Commercial Interior Design and Build market in India.
Within 4 years of operations, Flipspaces has become a leading player in the market by virtue of their tech-enabled approach to design visualisation and efficient project management process.
Flipspaces differentiates from various players in this space by allowing customers to experience their space-design interactively while making design changes on real time basis. Virtual Reality technology combined with their proficient contracting ability, Flipspaces comes as a one-stop partner for clients who want to design their commercial spaces through Interior Design and Contracting. Their target market includes offices, restaurants, educational and financial institutions, and hotels.
The Company has already executed projects for over 1.5 Million sq. ft. of commercial spaces. Their portfolio boasts of start-up offices, co-working spaces, storefronts and corporates like Bosch, Radiomirchi, Quantiphi, Indiqube, Regus, Nobroker, Coverfox, Razorpay, Playsimplegames, Moveinsync, Thoucentric and Busago amongst others.
Kunal Sharma, Founder and CEO, said, “Within a short span of time, Flipspaces has become a player to reckon within the Interior Design and Build space. We shall be using the funds raised towards enhancing our technology, increasing our market presence across multiple cities in India and further expanding the product database from organised and unorganised suppliers.”
Speaking on the funding, Hithendra Ramachandran, Managing Director, Carpediem Capital said, “We see great opportunity in commercial interior design and build market in India. Currently, less than 20% of the market is serviced by organised entities and about 80% of the market is serviced by local unorganised contractors. This gap allows an opportunity to create a model of scale, backed by technology enabled design and execution.”