Startup Flipspaces, which is into interior design, has acquired Renomania, a platform for end customers to comprehensively discover and engage with architects, interior designers and brands. The acquisition is a 100 per cent sale of the platform’s assets, database and all technology and related intellectual property (IP), Flipspaces said in a statement on Thursday.
The company did not disclose the value of the deal.
Renomania, founded by Navneet Malhotra and Ritu Malhotra, has developed a web-based platform for architects, interior designers and contractors, who are present on the platform with their detailed portfolio including their extensive body of work, for end-customers to interact and engage with.
Kunal Sharma, Founder and CEO, Flipspaces said, “The technology from Renomania gives a push to further evolve Flipspaces design tech stack to provide a platform characteristic to our design and build vertical where we can partner with interior designers and architects to create a global consumer facing interior design and product supply platform.”
Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan, Flipspaces focuses on the multi-billion interior design and build market in India and the US.
Flipspaces is currently backed by CarpeDiem, a growth-stage PE fund and a consortium led by Prashasta Seth, Ex-CEO, IIFL AMC.