Mumbai-based interior design startup Flipspaces has raised $4 million in its pre-Series B round led by Prashasta Seth, former CEO of IIFL AMC. The funding round, which was a mix of equity and debt, also saw participation from other prominent family groups and funds.
Flipspaces will utilise the fresh capital to expand its operations on the West Coast of the US and strengthen its tech.
The funding round comes almost two years after the startup raised $2 million from Seth and other HNIs. Prior to this, the startup raised a debt round of $1.15 million from UC Inclusive Credit and Alex Group and a $3.5 million Series A round from Carpediem Capital.
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 startup has two offerings – Vizworld and Vizstore. Vizworld is a tech-enabled brand which offers a full stack solution for designing and building commercial spaces while Vizstore offers a variety of furniture and furnishing products across categories.
The startup counts Reebok, Oppo, Zeta, Indiqube, among others, as its clients.
