Flipspaces raises Rs 50 Cr from Asiana Fund

Commercial interior design startup Flipspaces has raised Rs 50 crore (around $5.9 million) from Asiana Fund. 

This is an extension of a $35 million round raised last month. 

The fresh capital will be used to scale operations across India, the US, and the UAE, strengthen its proprietary technology platform, and evaluate strategic acquisitions in related sectors.

Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan, Flipspaces provides full-stack interior design and execution services for commercial spaces. The company’s tech-enabled offering includes space visualization, project management tools, and product sourcing capabilities.

Kunal Sharma, Co-founder and CEO of Flipspaces, said, “Asiana’s decades of experience in building operational scale and customer-first brands will be of immense value to us. Their insights will help our leadership team sharpen strategy and execution.” 

Flipspaces claims to have delivered over 8 million sq. ft. of commercial spaces for over 1,000 clients globally, including SMBs, large enterprises, co-working spaces, and retail brands. Its proprietary tools enable immersive visualizations and remote project monitoring through 360-degree views, enhancing client experience and operational efficiency. 

While Flipspaces has yet to file its annual financial report for FY25, the company registered an operating revenue of Rs 190 crore in FY24, a 90% increase from Rs 100 crore in FY23. The company reduced its losses to Rs 8 crore in FY24 from Rs 19 crore in FY23.