Flipspaces Secures Rs 50 Crore for Global Expansion and Tech Advancements
Flipspaces, a Mumbai-based startup specialising in commercial interior design with tech support, has secured Rs 50 crore ($5.9 million) in funding. The investment comes from the Asiana Fund, backed by Asian Paints promoter Jalaj Dani.
The startup plans to use the fresh capital to expand its presence in India, the United States, and the United Arab Emirates. It also aims to accelerate technology investments and explore strategic acquisitions in adjacent categories to broaden its solutions stack.
Flipspaces offers full-stack interior design and turnkey execution services tailored to commercial real estate clients. Its proprietary space-visualization tools and project management platforms enable immersive design experiences and real-time project monitoring. The company has delivered over 8 million square feet of workspace for over 1,000 clients since its inception.
In its latest financial year, Flipspaces narrowed its losses to Rs 8 crore ($95,000), a significant improvement from the previous year's Rs 19 crore ($225,000). The company's operating revenue also saw a 90% increase, reaching Rs 190 crore ($2.2 million) in FY24 from Rs 100 crore ($1.1 million) in FY23.
Flipspaces' recent funding round, led by the Asiana Fund, will support its expansion plans and technology advancements. The company's focus on proprietary tools and efficient project management has led to significant growth in both revenue and client base.
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