Mumbai-based startup Flipspaces has raised $35 million (roughly Rs 300 crore) in a new funding round led by Iron Pillar. Prudent Investment Managers and Synergy Capital Partners are among the other investors. Some early investors like Carpedium Capital also exited the round.

Flipspaces offers technology-based interior design and construction services for offices and commercial spaces. It primarily focuses on small and medium-sized businesses (SMBs), which account for 60% of the commercial interior market. The company uses its own software to help clients view designs in 3D and manage projects remotely.

Flipspaces, founded by Kunal Sharma, operates in India and the US and is now expanding into the UAE. The company has completed over 1,000 projects spanning 8 million sq ft. The US now accounts for 20% of its revenue.

In FY24, Flipspaces reported revenue of Rs 190 crore - up from Rs 100 crore the previous year. It narrowed its loss to Rs 8 crore from Rs 19 crore. The new funds will be used to grow in global markets and improve its technology.