Flipspaces, a New Delhi-based interior design startup, raised $2 million from a consortium of family offices and high net worth individuals led by former IIFL AMC CEO Prashasta Seth.
The round saw participation from family groups and HNIs. Flipspaces is also backed by Carpediem Capital, a growth-stage PE fund for mid-sized ventures.
The capital will be used to grow the US business, where the Mumbai-based startup claims to have seen 25X growth, and expand its newly launched software-as-a-service.
Company: Flipspaces Design Labs Inc
Round: pre-Series B
Funding Month: September 2021
Lead Investors: Prashasta Seth
Additional Investors: Carpediem Capital
Company Website: https://www.flipspaces.com/
Software Category: Virtual- Reality-Tech
About the Company: Founded in 2015 by Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan, Flipspaces focuses on the $5-billion commercial interior design and build market in India. Called Vizstore, its B2B SaaS vertical allows furniture and furnishing brands and retailers to virtualize the showroom experience—thereby reducing real estate costs. Flipspaces is a Virtual- Reality-Tech-based design and contracting venture that aims at disrupting the way consumers design and execute the interiors of their spaces. At the core of the venture is a path-breaking technology product that qualifies the interior-designing experience for the consumer putting the control of interior design in the hands of the consumer.