Interior design and build brand, Flipspaces, which focuses on the USD five billion commercial interior design and build market in India, has raised USD 3.5 million from Carpediem Capital. The company, founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu and Ritesh Ranjan, follows a tech-enabled approach to design visualisation and efficient project management process.
Using virtual reality technology, Flipspaces offers itself 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 executed projects for over 1.5 million sq ft of commercial spaces. Their portfolio includes start-up offices, co-working spaces, storefronts and corporates like Bosch, Radio Mirchi, Quantiphi, Indiqube, Regus, Nobroker, Coverfox, Razorpay, Playsimplegames, Moveinsync, Thoucentric and Busago, among others.
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Kunal Sharma, Founder and CEO, said, “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.” Hithendra Ramachandran, managing director, Carpediem Capital added: “We see great opportunity in the commercial interior design and build market in India. Currently, less than 20 per cent of the market is serviced by organised entities. This gap allows an opportunity to create a model of scale, backed by technology-enabled design and execution.”