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Flipspaces, a tech-led commercial interiors platform, has secured an additional INR 50 cr from the Asiana Fund, extending its recent USD 35 mn funding round. This fresh capital will support its expansion across India, the US, and UAE, while enhancing its proprietary technology and enabling sector-aligned acquisitions. The round also marks a strategic partnership, with Asiana Fund backed by Jalaj Dani of Asian Paints bringing operational and consumer-brand expertise to Flipspaces' next growth phase. With INR 190 cr revenue in FY24 and narrowing losses, the company is well-positioned for scale and stronger market presence.
Flipspaces, founded in 2015, has raised INR 50 cr from Asiana Fund in a continuation of its recent USD 35 mn funding round. This latest investment strengthens the company's mission to accelerate global operations and scale its integrated tech platform. The funding comes at a time when Flipspaces is deepening its presence in India, the United States, and the UAE key markets for commercial interior design and execution. Advertisement
The Asiana Fund, promoted by Jalaj Dani-co-promoter of Asian Paints brings more than just capital. The fund's backing is expected to play a pivotal role in refining Flipspaces' customer-focused approach and building operational rigour within its core leadership. Asiana's consumer brand legacy aligns well with Flipspaces' platform, which combines space planning, virtual design visualisation, product procurement, and on-site execution into one cohesive tech ecosystem.
The current infusion follows an earlier USD 35 mn funding round led by a combination of institutional and strategic investors, including Synergy Capital, Iron Pillar, and a consortium headed by Prashasta Seth. With Asiana now joining the cap table, Flipspaces gains both financial heft and domain mentorship, strengthening its execution capacity.
Co-founder and CEO Kunal Sharma noted that Asiana Fund's operational expertise and strategic vision would significantly support Flipspaces' leadership team, enabling sharper execution and expansion plans. Apurva Patel, Managing Partner at Synergy Capital, also highlighted that Asiana's entry signals the beginning of a long-term collaboration based on shared values and complementary capabilities.
The funds will also support Flipspaces' ambitions to explore inorganic growth by acquiring businesses in adjacent segments. The company has already executed over 1,000 projects across more than 8 million sq ft, serving enterprises, startups, coworking spaces, and retail clients with a turnkey delivery model powered by technology.
On the financial front, Flipspaces posted a strong performance in FY24, recording INR 190 cr in revenue up nearly 90% compared to the previous year. Additionally, the company managed to cut its losses significantly from INR 19 cr to INR 8 cr, reflecting better cost management and improved operational efficiency.
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