Flipspaces Raises $4 Million In Pre-Series B Funding The firm plans to utilize the funds to focus on expansion in the US market and strengthen its integrated tech combined with a global supply chain for SME design and build
By Teena Jose
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Tech-driven interior design venture, Flipspaces, has secured $4 million in funding from its existing investors, with Prashasta Seth, former CEO of IIFL AMC, heading the investment consortium. The funding round saw participation from other family groups and funds. Flipspaces is backed by Carpediem Capital as a key supporter, a growth-stage PE fund that focuses on mid-sized ventures.
The firm plans to utilize the funds to focus on expansion in the US market and strengthen its integrated tech combined with a global supply chain for SME design and build.
"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 a global demand," said Kunal Sharma, founder and CEO, Flipspaces.
Founded in 2015, Flipspaces is a design-tech venture focussed on becoming the one stop shop for SME design and build needs globally. It is currently operating in the USA and India. With a fully operational presence in the East Coast and an office in New York City, Flipspaces said it is eyeing the newer geographies on the West Coast.
"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," said Prashasta Seth, the head of the investing consortium.
