Flipspaces raises $2 million to grow its newly launched SaaS vertical

New Delhi: Flipspaces, a technology-enabled interior designer for office spaces, has raised $2 million from a consortium of family offices and high networth individuals led by former IIFL AMC CEO Prashasta Seth.

Carpediem Capital, a growth-stage private equity fund, is among the company’s investors.

The capital will be used to grow the US business, where the Mumbai-based startup claims to have seen 25X growth, and expand its newly launched software-as-a-service vertical.


"The first third party SaaS product from the Flipspaces stable meant for furniture and furnishing brands, retailers and small businesses has seen fantastic initial response,” said Kunal Sharma, cofounder and chief executive of Flipspaces. “We are getting close to our vision of becoming the Zoho for interior design and build domain, which is a $1 trillion-plus market globally.”

Founded in 2015 by Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan, Flipspaces focuses on the $5-billion commercial interior design and build market in India. Called Vizstore, its B2B SaaS vertical allows furniture and furnishing brands and retailers to virtualise the showroom experience—thereby reducing real estate costs. BharatPe, NoBroker, Open Money, INDwealth, Gaana and Addverb Technologies are among the company’s clientele.

“We have been impressed by the capital efficiency of the team, their vision for technology to drive transformation in all aspects of the design-and-build domain, and the strong and diverse founding team,” said Seth. “These factors have been key to our decision of investing in the business.”