Interior design startup Flipspaces has secured INR 50 Cr ($5.9 Mn) from Asiana Fund as part of its $35 Mn funding round. This investment is in addition to the $35 Mn raised last month, led by Iron Pillar, with participation from Prudent Investment Managers and Synergy Capital.
Flipspaces plans to use the fresh capital to fuel its next phase of growth, expanding its presence across India, the US, and UAE, strengthening its proprietary tech stack, and enabling strategic acquisitions. The startup offers a tech-first, end-to-end commercial interior design platform, catering to small and medium businesses (SMBs).
According to Flipspaces founder and CEO Kunal Sharma, “Asiana team’s collective experience of over 10 decades in scaling operations and building customer-centric brands will be invaluable to Flipspaces.” The startup has delivered over 8 Mn sq ft of space to more than 1,000 brands, growing at a CAGR of 65% over the past four years.
Flipspaces competes with players like Livspace, HomeLane, and Bonito Designs. The startup claims that the US currently contributes 20% of its total revenue, and operations in both India and the US are already profitable. Flipspaces aims to enter the UAE market and go public by 2026, pursuing a reverse flip approval through the fast-track mechanism.
