Interior design firm Flipspaces on Tuesday said it has raised USD 4 million (about Rs 33.19 crore) from investors to expand its business.
In a statement, the company said it has “secured USD 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 prominent family groups and funds. Founded in 2015, Flipspaces is backed by Carpediem Capital as a key supporter, a growth-stage PE fund that focuses on mid-sized ventures. It is currently operating in the USA and India.
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Kunal Sharma, the Founder and CEO of Flipspaces, said, “We have 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.”