Tech-driven interior design startup Flipspaces has raised $35 million in a funding round led by Iron Pillar, with additional participation from Prudent Investment Managers and Synergy Capital Partners. The round included both primary and secondary investments and enabled an exit for early backer Carpediem.

The newly secured capital will support the company’s expansion across India, the US, and the UAE, boost its technology capabilities, and fund potential acquisitions.

Founded by Kunal Sharma, Flipspaces runs a platform that merges design, supply chain, and project execution, mainly serving small and medium-sized businesses, which make up around 60% of the commercial interiors market. The company previously raised $4 million in a pre-Series B round in September 2023, led by investor Prashasta Seth and others.

The startup, which has reportedly reached $40 million (approx. Rs 340 crore) in revenue, provides end-to-end design and execution services using proprietary technology that offers immersive visualisation and remote project tracking. 

Flipspaces claims to have completed more than 8 million sq. ft. of commercial space for over 1,000 clients globally, including large corporations, retail brands, and coworking spaces. It also claims profitability in both India and the US, where it generates 20% of its revenue.

Financially, Flipspaces recorded Rs 190 crore in operating revenue for FY24, which is a 90% jump from Rs 100 crore in FY23, while narrowing its losses to Rs 8 crore from Rs 19 crore the previous year. The company is yet to release its financials for FY25.

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