Mumbai-based interior design and build firm Flipspaces has raised USD 50 million (~INR 440 crore) in an expanded Series C round, marking a milestone in its journey to become a global tech-driven leader in the commercial design sector.
Flipspaces extended Series C round brought in new heavyweight investors—CE-Invests (UAE), Panthera Growth Partners (Singapore), and SMBC Asia Rising Fund (Japan)—while enabling the exit of early-stage backer Carpe Diem. Existing supporters such as Iron Pillar, Synergy Capital Partners, and Prashasta Seth also reinforced their commitments.
Funding Structure and Tranches
This expanded Series C was structured across three tranches.
- In May 2025, Flipspaces secured USD 35 million (~INR 299 crore), led by Iron Pillar.
- In June, the company added INR 50 crore (~USD 5.5 million) from Asiana Fund.
- The latest tranche, closed in September, brought the cumulative raise to USD 50 million (~INR 440 crore).
The fresh capital will be deployed to scale operations in India, the U.S., and the UAE, strengthen supply chain integration, and supercharge Flipspaces’ proprietary technology stack with AI-driven interventions. Management has also signaled intent to pursue strategic acquisitions in adjacent categories, particularly legacy firms in key global markets.
Strategic Vision: AI, VR, and Global Scale
Founded in 2015 by Kunal Sharma, along with co-founders Ankur Muchhal, Vikash Anand, and Mrinal Sharma, Flipspaces differentiates itself with a technology-first model. Its ERP platform integrates business development, design, supply chain, and project management into a single workflow.
Clients can experience immersive VR walkthroughs, modify designs in real time, and benefit from AI-led tools aimed at improving cost transparency, efficiency, and timely delivery in a traditionally fragmented industry.
“We aim to double down on technology, especially AI-powered software for the interior design and build domain. In parallel, we’re expanding across geographies and pursuing inorganic growth to enhance EBITDA and scale with our technology,” said Sharma in a recent interview.
Industry backers see Flipspaces as a breakout contender. Ghada Abdelkader, Senior VP at CE-Invests, noted:
“Flipspaces’ ability to scale profitably across India and the USA, while deploying AI and VR to transform a traditional sector, exemplifies the kind of opportunity we are committed to backing.”
Track Record and Market Position
Flipspaces has already delivered over 1,000 projects spanning 8 million square feet, serving a wide clientele that includes enterprises, startups, and SMEs across IT, retail, education, healthcare, and financial services.
Financially, the company reported INR 190 crore in operating revenue for FY24, up 90% from INR 100 crore in FY23, while cutting losses by more than half to INR 8 crore from INR 19 crore the previous year. Its strong growth trajectory is seen as validation of its model, even as it competes with players such as Livspace and Space Matrix.
Final Words
The entry of high-profile institutional investors from the Middle East, Singapore, and Japan underscores confidence in Flipspaces’ ability to become a global category leader in commercial interior design. The UAE is set to act as a launchpad for expansion into the wider MENA region, positioning the company on the Asia–UAE–USA innovation corridor.
As Flipspaces looks to combine tech innovation, global expansion, and inorganic acquisitions, it is effectively rewriting the rules of a sector once dominated by traditional firms. Investors and clients alike will be watching closely to see if its AI- and VR-driven approach can establish a new global standard in design and build.
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