Interior design startup Flipspaces raises Rs 50 Cr from Asiana Fund

Commercial interior design startup Flipspaces has raised ₹50 crore (around $5.9 million) from Asiana Fund as part of a larger $35 million funding round. 

Existing investors Synergy Capital Partners, Iron Pillar, and a consortium led by Prashasta Seth also participated in this round. Jalaj Dani, a promoter of Asian Paints Limited, sponsors Asiana Fund.

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The company said it will use the funds to expand its presence in India, the US, and the UAE. It also plans to invest in its tech platform and explore strategic acquisitions in new markets and related sectors.

"Asiana team's collective experience of over 10 decades in scaling operations and building customer-centric brands will be invaluable to Flipspaces. Our core team will benefit tremendously from their insights and assistance,” said Kunal Sharma, Founder and CEO of Flipspaces.

Jalaj Dani from Asiana Fund said, "Flipspaces has developed robust systems and processes that have the potential to bring greater efficiency and transparency to the commercial interior space."

Synergy Capital's Managing Partner Apurva Patel said, “We are elated with Asiana Fund joining our investor group to participate in the Flipspaces transaction, and are looking forward to working closely with Asiana's team to help Flipspaces achieve its vision.”

About Flipspaces 

Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu and Ritesh Rajan, Flipspaces provides end-to-end design and build solutions for commercial spaces, powered by its own tech platform. This includes tools for space visualisation, project management, and product sourcing.

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