Interior Design VR Startup ‘Flipspaces’ Raises Funds

12 Oct 2021 CW Team

Home decor and interior design startups devised novel ways to stay afloat during the pandemic, and one of them, Mumbai-based Flipspaces, which provides virtual reality (VR)-based interior design, has raised a $2 million Pre-Series B round led by Prashasta Seth, ex-CEO, IIFL AMC (India-focused, global asset management firm), with participation from undisclosed family groups and high net worth individuals (HNIs)

The company claims to be profitable and plans to utilise the cash to expand its operations in the United States as well as develop its recently established SAAS vertical, VIZSTORE.

Flipspaces is a commercial interior design and construction company founded in July 2015 by IIT Bombay alumni Sharma, Vikash Anand, and Ankur Munchal. Vizstore, the company's B2B SaaS vertical, is a gamified platform that allows users to walk through virtual reality and see furniture and interiors.

Startups such as BharatPe, NoBroker, Openmoney, Indwealth, Gaana, and Addverb are among Flipspaces' clients. The firm previously received $1.15 million in debt financing from UC Inclusive Credit and Alex Group, as well as $3.5 million in Series A capital from Carpediem Capital.

Praful Sahu, the business's head of products, indicated that the company would continue to focus on technological distinction in order to create products that can eventually be turned into SaaS or PaaS. (platform-as-a-service).

In India, the market for house interiors and renovations is estimated to be between $20 billion to $30 billion dollars. Livspace, MS Dhoni-backed HomeLane, Spaceler, Hidecor, and Interazzo are some of the other interior design companies.

Also read:
https://www.constructionworld.in/latest-construction-news/real-estate-news/trichy-city-municipal-corporation-proposes-master-plan-for-panjapur/30366
https://www.constructionworld.in/urban-infrastructure/wastewater-and-sewage-treatment/amrut-projects-in-nine-civic-bodies-delayed-in-kerala/30364

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