Virtual Reality- enabled interior design and build brand – Flipspaces has raised $3.5 million risk capital from Carpediem Capital.
The Mumbai-based startup will deploy the first-ever institutional funding for enhancing technology, expanding footprint and product database from organised & unorganised suppliers.
Floated in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan, Flipspaces is a VR focused interior design platform that allows customers to experience their space-design interactively while making design changes on a real-time basis.
With high ticket sizes, the B2B-focused startup’s target audiences mainly come from offices, restaurants, educational and financial institutions, and hotels.
Flipspaces does the design visualisation through VR application Vizwalk where a user is able to walk through a space modelled get a “near real” experience of how space will look after it is completely furnished.
The execution is done by the company’s parent entity Gloob. For the uninitiated, Gloob which is a multi-category, design and production lab launched in 2011.
Besides, Flipspaces offers integrated managed office services like Carpentry, Elevators, Fire Fighting, HVAC, Transformers, and essential services like cleaning and housekeeping, Facade Cleaning, Landscaping, Waste Management.
According to the company’s press statement, it has executed projects for over 1.5 million sq. ft. of commercial spaces. Its portfolio of companies is Bosch, Radiomirchi, Toppr, Quantiphi, Indiqube, Regus, Nobroker, Coverfox, Razorpay, and several others.
Of late, online interior design startup Design Cafe had picked up Rs 200 crore from WestBridge Capital in an equity financing round.
Apart from Design Cafe, Flipspaces competes with BCCL-backed HomeLane and TPG Growth funded Livspace. Another bootstrapped startup Studiokon Ventures also provides end-to-end real estate transformation solutions to corporates, retail, and hospitality spaces.