Flipspaces, an interior design startup, has raised $35 million funding led by tech growth investor Iron Pillar, according to a company’s statement.
The round also saw participation from existing investors Prudent Investment Managers and Synergy Capital.
The startup plans to use the funding to accelerate growth across India, US and UAE, strengthen Flipspaces’ technology and brand leadership, and explore inorganic growth opportunities in new geographies and adjacent categories.
Commenting on the investment, Ashok Ananthakrishnan, Partner, Iron Pillar, said, “We recognised that this large and growing market was burdened by inefficiencies stemming from fragmented supply chains, operational complexity, and limited technology adoption. Flipspaces has scaled to USD 40 million in revenue in a capital-efficient manner. With their tech-first platform spanning design, supply chain, and project management, we believe they are well positioned to build a leading franchise across India, the GCC, USA, and other global markets, and to establish a large, enduring company.”
Flipspaces’ unified, tech-first platform streamlines operations, accelerates project timelines, and is built for client delight. Proprietary tools such deliver immersive visualisation experiences, enabling clients to visualize their spaces before execution.
Its supply chain technology, provides access to a backward-integrated, quality-assured online catalog featuring in-house manufactured and leading market products and finishes
The startup claims to have grown at a 65 per cent CAGR over the last four years, delivering over eight million square feet of commercial space for more than 1,000 brands across India and the US. It is now expanding into the UAE, a growing global hub for commercial real estate. Additionally, Flipspaces has launched a dedicated vertical to handle design and build mandates for large enterprises.
Meanwhile, India’s private equity and venture capital (PE-VC) investments staged a recovery in 2024, growing by approximately 9 per cent to reach $43 billion across close to 1,600 deals, with traditional sectors taking the lead in driving market growth, a report showed on Wednesday, May 7.
The recovery strengthened India’s position as Asia-Pacific’s second-largest PE-VC destination, capturing approximately 20 per cent of total investment and reflecting growing investor confidence in the country’s macroeconomic stability, according to the report by Bain & Company.
Read More- India PE-VC market grows 9% to $43 billion in 2024: Report
