Interior design tech startup Flipspaces has raised $2 million in its pre-Series B round led by a consortium led by Prashasta Seth, ex-chief executive officer, IIFL AMC. Family groups and High Net Worth Individuals (HNIs) have also joined the round.
The fresh capital will be used to drive growth in the US vertical, and to expand newly launched SaaS vertical, said Flipspaces in a press release.
Started by Kunal Sharma and Ankur Mucchal, Flipspaces provides interior design services and build projects for commercial spaces. Its VR-application for interior design and visualization claims to generate a simulated virtual environment for its users to get a near-real experience.
The firm has recently launched a B2B SaaS vertical called Viztore, which allows furniture and furnishing brands and retailers to virtualise their showroom experience, thereby heavily cutting costs of real estate for visual merchandising of products.
Flipspaces is also backed by Carpediem Capital, a growth-stage PE fund for mid-sized ventures.