Interior designer startup Flipspaces raises $4 million in equity-debt mix
Interior designer startup Flipspaces on Tuesday said it has raised $4 million in a mix of equity and debt from a consortium of existing investors led by former IIFL AMC chief executive Prashasta Seth. Other family groups and funds also participated, as per a statement.
Flipspaces operates a platform that manages interior designers, product suppliers and contractors for SME clients. “We’ve seen rapid growth in the US market combined with robust India numbers. Leveraging this momentum, our impetus is to enhance our focus on tech to enable processes at scale and double down on building on our supply chain capability to serve global demand,” Kunal Sharma, founder and CEO of Flipspaces, said.
Elevate Your Tech Process with High-Value Skill Courses
Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Digital MarketingVisitIIM LucknowIIML Executive Programme in Data ScienceVisitIndian School of BusinessISB Digital Marketing and AnalyticsVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitThe company is preparing for a larger fundraise in the future and continues engaging with investors in line with its vision of disrupting interior design by building for small and medium enterprises globally, Sharma added.
Founded in 2015, Flipspaces currently operates in the United States and India.
“The decision to invest in Flipspaces for a second time is driven by the company's impressive growth since the previous investment. Their vision to combine technology with supply chain integration, coupled with the founders' strong pedigree and commitment towards capital efficiency and profitability was another factor,” Seth said.
Flipspaces cofounder and COO Ankur Muchhal added that
