Flipspaces raises $4 million in pre series-B funding in mix of equity and debt, ET RealEstate

September 5, 2023

NEW DELHI: Flipspaces has secured $4 million in funding from its existing investors, with Prashasta Seth, former CEO of IIFL AMC, leading the investment consortium. The funding round saw participation from other family groups and funds.

The funds will be used for expansion in the US market and strengthen its integrated tech combined with global supply chain for SME design and build, the company said.

Kunal Sharma, founder and CEO of the company said, “We’ve seen rapid growth in the US market combined with robust India numbers. Leveraging this momentum, our impetus is to enhance our focus on tech to enable processes at scale and double down on building on our supply chain capability to serve a global demand.”

With a fully operational presence in the East Coast and an office in New York City, the company is eyeing the newer geographies on the West Coast.

“Our ticket size is approximately 10-15 times larger than individual-residential-focused interior design startups. We’re able to maintain better gross margin profiles and faster completion timelines, ensuring profitability at the GM, NM, CM and EBITDA levels,” said Sharma.

  • Published On Sep 5, 2023 at 01:00 PM IST

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Abhay Singh

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