Technology-led interior design startup Flipspaces has raised $3.5 million from Carpediem Capital. Flipspaces is an Indian based startup which used high end technology for interior designing. The startup will use the fresh funds to intensify their technology and expand their market presence across cities, Founder and CEO Kunal Sharma said.
Exclusively designed for the home and office decor markets, Flipspaces was founded by Kunal Sharma, Ankur Mucchal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Rajan in 2015. It is actually a Virtual-Reality-Tech-based design and contracting venture that aims at disrupting the way consumers design and execute the interiors of their spaces. At the core of the venture is a path-breaking technology product which gamifies the interior- designing experience for the consumer putting the control of interior-design in the hands of the consumer. Combined with our contracting arm which consists of our own product manufacturing capabilities and curated vendors network, we come in as end-to-end design to execution partner for companies looking to build their office, builders looking to differentiate their residential or commercial projects or players in the managed working space market.
The CEO of flipspaces Kunal says, “We are a B2B-focused enterprise and our ticket sizes are fairly high. We are able to execute projects at lower costs than any other agency in India and at sharper timelines. All this allows us to maintain a robust GM even after reduction of CAC. That is the key to our model and success so far.”
According to sources, Hithendra Ramachandran, MD of Carpediem Capital, said less than 20 percent of the market is serviced by organised entities and about 80 percent of the market is served by local and unorganised contractors. The gap allows an opportunity to create a model of scale, backed by technology-enabled design and execution.
The team which comes from the background of engineering, design, gaming has designed spaces for Radio Mirchi, Bosch, Indiqube, NoBroker, Coverfox, etc.