Flipspaces Mumbai-based commercial interior design tech startup, has raised ₹50 crore (approximately $5.9 million) in a fresh funding round led by the Asiana Fund, an investment vehicle backed by Asian Paints promoter Jalaj Dani.
This round is an extension of its previously closed $35 million round and saw continued participation from:
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Synergy Capital Partners
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Iron Pillar
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A consortium led by Prashasta Seth
📈 Key Highlights
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Funding Raised: ₹50 crore (~$5.9 million)
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Lead Investor: Asiana Fund (sponsored by Jalaj Dani)
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Other Participants: Synergy Capital Partners, Iron Pillar, and Prashasta Seth-led consortium
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Previous Round: $35 million (extended)
🚀 Growth Strategy: What’s Next for Flipspaces?
Flipspaces will utilize the fresh capital to:
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Expand its global footprint across India, the United States, and the United Arab Emirates
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Enhance its technology stack that powers immersive design and seamless project management
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Invest in AI-enabled visualization tools and virtual project monitoring
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Explore strategic acquisitions to broaden its product and service offerings
“The Asiana team’s deep operational experience will greatly benefit our core team as we scale,” said Kunal Sharma, Co-founder & CEO, Flipspaces.
🛠️ What Flipspaces Offers
Founded in 2015 by a team of six entrepreneurs—Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan—Flipspaces delivers end-to-end interior design and turnkey execution services for commercial spaces.
Their proprietary tech platform offers:
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3D virtual space visualization
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Real-time remote project tracking
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Automated sourcing and procurement
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Data-backed design decision-making tools
These innovations allow clients to digitally walk through commercial spaces and monitor execution remotely—bringing transparency and efficiency to the traditional design-build process.
🌍Flipspaces Global Reach & Impact
Since inception, Flipspaces has:
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Designed and executed 8 million+ sq. ft. of workspace
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Catered to 1,000+ clients across SMEs, enterprises, coworking providers, and retail chains
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Built a presence in India, US, and UAE
💬 What the Investors Say
“We’re impressed by the Flipspaces team and their world-class execution. Asiana is proud to support their next growth phase,” said Jalaj Dani, sponsor of Asiana Fund.
“We’re excited to welcome Asiana Fund and continue supporting Flipspaces as it redefines commercial interiors,” said Apurva Patel, Managing Partner at Synergy Capital Partners.
📊 Financial Performance
Flipspaces has shown strong financial growth:
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FY24 Revenue: ₹190 crore (up from ₹100 crore in FY23 — 90% YoY growth)
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FY24 Losses: Reduced to ₹8 crore from ₹19 crore in FY23 — over 50% improvement
Innovent Blog continues to track India’s most innovative startups shaping the future of workspaces, technology, and design. Stay tuned for more insights from the Indian startup ecosystem.