Interior Design Startup Flipspaces Raises $2M In Pre-Series B Funding
Flipspaces, an Interior design tech startup, has raised $2 million in a pre-Series B round from a consortium led by Prashasta Seth (Ex-CEO of IIFL AMC). This round of funding saw participation from family groups and HNIs.
As per the startup, the startup plans to utilise the funds to drive the growth of the US vertical, which has seen 25X growth in a year. Additionally, Flipspaces wants to expand its newly launched SaaS vertical.
Started in July 2015 by IIT alumni Kunal Sharma and Ankur Muchhal, Flipspaces is a global interior design tech startup working towards the discovery, design and delivery of commercial and residential spaces. The interior design tech startup has also recently launched a B2B SaaS vertical called Vizstore.
Speaking about the development, Kunal Sharma, Founder and CEO of Flipspaces, said,
“Flipspaces is at the cusp of becoming a market-defining venture. On one hand, leveraged by our tech-suite for Interior design, our US vertical has grown 25X in the last four quarters and is now profitable at the EBITDA level. One the other hand, the first third-party SaaS product from the Flipspaces stable meant for furniture and furnishing brands, retailers, and SMBs has seen fantastic initial response.”
Vizstore allows furniture and furnishing brands and retailers to virtualise their showroom experience, thereby heavily cutting costs of real estate for visual merchandising of products. The Virtual- Reality-Tech-based design and contracting startup aims at disrupting the way consumers design and execute the interiors of their spaces.
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