Commercial interior design-tech startup Flipspaces has raised $35 million (INR 295.8 Cr) in a mix of primary and secondary capital, led by growth-stage investor Iron Pillar.
The round also saw participation from existing backers Prudent Investment Managers and Synergy Capital, while early-stage investor Carpediem made a full exit.
The Mumbai-based venture will use the fresh funds to accelerate expansion in India, the US, and the UAE, double down on technology, strengthen its brand positioning, and explore acquisitions in newer markets and adjacent categories.
Founded in 2011 by Kunal Sharma, Ankur Muchhal, Vikash Anand, and Mrinal Sharma, Flipspaces offers a tech-first, end-to-end commercial interior design platform aimed primarily at SMBs—who make up nearly 60% of the market
It competes with players like Livspace, HomeLane, and Bonito Designs.
With both Indian and US operations reported as profitable, the company is now entering the UAE—seen as a rising hub for commercial real estate.
The US currently contributes 20% to Flipspaces’ revenue, and the startup claims a 65% CAGR over the past four years, having delivered 8+ million sq. ft. of workspace for over 1,000 brands.
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Backed by proprietary tools for 3D visualisation, supply chain integration, and real-time project tracking, Flipspaces is also building a vertical to serve large enterprise mandates.
The company, now valued at approximately ₹221 Cr (as per Tracxn), last raised $4 million in a Pre-Series B round in 2023.
Iron Pillar Partner Ashok Ananthakrishnan noted that Flipspaces has scaled to $40 million in revenue efficiently, while CEO Kunal Sharma expressed excitement about future growth, calling the raise a validation of the company’s vision to become a global design-tech leader.
Flipspaces aims to go public by 2026 and is preparing to become one of the first startups to pursue a reverse flip via the fast-track route.
