Total amount raised
$6.7 Millions
Latest funding date
09/01/2023
Location
Flipspaces has successfully raised funds through multiple rounds, with the latest being a debt financing round on September 5, 2023. The company has shown consistent two-fold year-on-year growth in both India and the US, achieving profitability at an EBITDA level.
Backed by investors such as Carpediem Capital, Flipspaces continues to revolutionize the interior design industry with its tech-enabled solutions. Keep reading to explore the intricacies of Flipspaces' fundraising journey and the investors backing this innovative platform.
What Is Flipspaces?
Flipspaces, founded in 2011 by Ankur Muchhal and Kunal Sharma, operates in the consumer electronics, real estate, and web design industries. The company is headquartered in Westborough, Massachusetts, with additional offices in New York, Mumbai, Noida, Bangalore, and Hyderabad.
With a workforce of 101-250 employees, Flipspaces leverages advanced technologies like Virtual Reality and Machine Learning to offer comprehensive interior design and build solutions. Their services span design, construction, and supply of interior products, catering to various sectors including corporate offices, startups, and coworking spaces.
How Much Funding Has Flipspaces Raised?
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: September 2023
- Lead Investors: Mr. Prashasta Seth, P3 Green
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's continued growth and operational activities.
- Series B
- Amount Raised: $2M
- Date: September 2021
- Lead Investors: Mr. Prashasta Seth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and operations.
- Debt Financing
- Amount Raised: $1.2M
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Typically used for operational and working capital needs.
- Series A
- Amount Raised: $3.5M
- Date: January 2019
- Lead Investors: Carpediem Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Typically used for scaling operations and market expansion.
Total Amount Raised: $6.7M
Current Valuation: Not publicly disclosed
Key Investors
- Prashasta Seth
- Details: Prashasta Seth is the former CEO of IIFL AMC, a prominent figure in the investment community. He has led multiple funding rounds for Flipspaces, showcasing his confidence in the company's potential.
- Investment Focus Areas: High-growth potential startups, technology integration, capital-efficient businesses.
- Notable Investments: Not publicly disclosed.
- Carpediem Capital
- Details: Carpediem Capital is a private equity firm that invests in growth-stage companies. They have been a significant backer of Flipspaces, participating in the Series A round.
- Investment Focus Areas: Consumer, healthcare, financial services, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- UC Inclusive Credit
- Details: UC Inclusive Credit is a financial institution providing debt funding. They have supported Flipspaces in its debt financing rounds.
- Investment Focus Areas: Companies with strong unit economics, growth potential, debt funding.
- Notable Investments: Not publicly disclosed.
- Alex Group
- Details: Alex Group is a financial group involved in providing debt funding. They have participated in funding rounds for Flipspaces.
- Investment Focus Areas: Financial services, debt funding, growing companies.
- Notable Investments: Not publicly disclosed.
What's Next for Flipspaces?
Flipspaces is poised for significant growth as it expands its operations to the West Coast of the United States. This move opens up vast opportunities in a lucrative market, allowing the company to leverage its tech-enabled solutions to meet the growing demand for commercial interior design. The expansion is expected to be a game-changer, potentially increasing their market share and revenue streams.
To support this ambitious growth, Flipspaces is likely to seek additional funding. The company has already demonstrated its ability to attract investors, and future fundraising rounds could provide the necessary capital to scale operations and enhance technology. However, the journey won't be without challenges. Competing with established players and managing operations across different geographies will require robust strategies and efficient execution.
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