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2w ago

Flipspaces Secures Rs50 Crore From Asiana Fund in $35 Million Round

The funding will drive expansion into the UAE, focusing on the development of its proprietary interior design technology platform.

Asiana Fund Backs Flipspaces with Rs 50 crores to Accelerate Global Expansion | Image: Flipspaces

Overview

  • The Rs50 crore stake came from Asiana Fund, backed by Asian Paints promoter Jalaj Dani, with Synergy Capital Partners, Iron Pillar and Prashasta Seth’s consortium participating
  • Flipspaces will deploy the funding to scale operations in India and the US, launch in the UAE and advance its proprietary interior design technology platform
  • Having delivered over 8 million square feet for more than 1,000 brands at a 65% CAGR, Flipspaces competes in a market projected to reach $11.74 billion by 2030
  • The startup is profitable in India and the US, with the US market contributing about 20% of its total revenue
  • Flipspaces aims to go public by 2026 through a fast-track reverse flip approval process