Flipspaces Raises Debt Funding of $1.15 Mn from UCIC and Alex Group of Companies

• Funds will be dedicated to the growth of domestic business units, expansion of efficient operations globally and enhancing VR technology for better consumer experience.


• Flipspaces offers a one-stop solution for discovery, design, and delivery of commercial spaces


• Provides a tech-enabled approach to design visualization and efficient interior design project management.

Flipspaces, India’s leading tech-based commercial interior design and build startup, has raised $1.15 million (Rs 8 Crore) in a venture debt funding round from Unitus Capital Inclusive Credit (UCIC) and Alex Group of Companies. With this successful round of debt funding, Flipspaces will utilize the funds towards the growth of domestic business units, expansion of the foothold globally and enhancement of VR technology for better consumer experience.

Founded by Kunal Sharma and Ankur Muchhal in 2015, Flipspaces is an integrated solution provider of property “Discovery”, “Design” and “Delivery” for SMEs, startups and co-working spaces that are looking to expand their physical presence. The technology suite, powered by Virtual Reality and Gaming Engine Based tech, is the key differentiator in the startup’s vision of disrupting a $170 billion market globally.

India has over 45 million registered SMEs which is second only to China. These SMEs employ a workforce of 110 million next only to agriculture in India. The workplaces that this workforce operates out of; offices, retail stores, hospitality outlets, form a lion’s share of commercial real estate in India. But this market has largely been unorganized in terms of managing the discovery, design, and delivery for SME owners and other stakeholders in this domain. Flipspaces is going after this market using tech and process enabled approach to make real estate expansion management i.e. space discovery, design, and delivery, an integrated solution for the SME client.

Commenting on this debt funding, Kunal Sharma, CEO & Founder of Flipspaces said, “ We are happy to have partnered with UCIC and Alex Group Of Companies towards leveraging debt for working capital and growth. We, at Flipspaces, aim to establish ourselves as a de facto brand for the real estate expansion management of commercial spaces across different SMEs. We plan to expand to three more business units in India and upscaling our business operations to two cities in the US, delivering a differentiated customer experience through cutting-edge web and VR technology .”

Flipspaces help prospective customers to discover a property mapped to their needs using a consultative approach at the discovery stage. Potential SME customers can further visualize their virtual office environment in their chosen spaces by leveraging their VR-technology coupled with their exhaustive product catalog of more than 2 lakh commercial interiors product SKUs.

“We are an inherently profitable and hugely capital-efficient brand. Unlike other brands, we can afford to leverage debt as an instrument for growth.” highlighted Kunal Sharma.

Unitus Capital Inclusive Credit, which has in-depth expertise in investor relationships and streamlining the execution of raising capital as well as deliver deep social and environmental impact.

Abhijit Ray, Co-founder and Managing Director, Unitus Capital Inclusive Credit commented,“ Having invested in a few early-stage startups, there is greater scope and potential in Flipspaces in how they help brands across different sectors to freezing an office space mapped as per a suitable location, budget, and aspirations with the help of structured tech and data-driven approach in a cost-effective manner with great conceptualization and execution.”

“Taking into consideration the customer outreach and loyalty analysis, we are proud of the fact that Flipspaces has 40% of the repeat customers and 20% of the referral customers which adds the trust element. As an investor, we are impressed by the unique competitiveness of Flipspaces,” added Prannay Sureka, Managing Director, Alex Group of Companies.

Flipspaces has earlier secured $3.5 million from Carpediem Capital in series A funding in January 2019, which was the first institutional funding received by the startup. Since its inception in 2015, Flipspaces has executed projects of revamping more than 3 million square feet of commercial spaces for various Fortune 100 companies, MNCs like BSH, Times of India, Aditya Birla and new-age startups like Razorpay, Nobroker, Bounce, and PlaySimpleGames.

About Flipspaces :

Founded in July 2015, Flipspaces is a tech-enabled venture targeting the $170 billion discovery, design and build market of SME commercial spaces. Flipspaces follows a differentiated approach through its tech-suite which creates efficiency and enhances the customer experience in every step of their interior design and build journey. Flipspaces was co-founded by IIT alumni, Kunal Sharma and Ankur Mucchal, both serial entrepreneurs with a history of build, scale, and exit.

FlipSpaces - India's First B2B Ecommerce Platform With Home Decor Visualizer

Flipspaces, which was launched on 1st November 2014, claims to be India's first B2B Ecommerce Platform with home decor visualizer launched by Gloob Decor, a startup venture in home decor and improvement industry founded by a group of Bombay IITian.

Mumbai based FlipSpaces is India's first multi-category Home Decor Visualizer applicationin home improvement market with a collection of more than two lakh product variants ranging from wallcoverings, clocks, sculptures, furniture, canvas frames and other home accessories.

The web based application is designed exclusively for home décor and home improvement consumer market targeting architects, interior designers, contractors, developers, home décor store owners and other industry players. It can also emerge as a strong platform for all vendors, suppliers and other major stake holders in home décor industry.

Flipspaces allows users to visualize home décor products in relevant environments sorted by type of space (home, office, school) or even the colour tone of an environment. Flipspaces further aims at replacing the traditional physical catalogs reducing the cost and dependency on it. As the cost involved with traditional catalogs is significant, companies usually charge multiple lakhs of rupees for the catalogs only.

Kunal Sharma, Founder and Director, Gloob Décor said, "The market for tech-based HDV (Home Décor Visualizer) can be pegged at about 10,000 Crore in India alone. The sales figure over 50 lakhs rupees on the launching day is just indicative of the market potential of technology in this space."

Mr. Ankur Muchhal, Co-founder, Managing Director pointed out, "we feel that the consumer experience for while buying home décor can be hugely improved than the std image plus description model which is widely prevalent now. Flipspaces envisions an augmented reality feature which will firmly establish Gloob as a leader in the technology aided home improvement distribution. We have a very strong R&D team which is coming up with new modules which can further disrupt distribution in the home decor market."

Mr. Vikash Anand, Parter and Director, Sales added, "Our background in technology and product design along with a strong Pan-India sales presence gives us an extra edge to gain market entrenchment faster than any other new player. The web based application is designed based on extensive market research and customers' feedback and has the ability to disrupt the market redefining the product buying experience in home improvement from raw material selections to visualizations to cost analysis."

Advantages of Flipspaces:

• India's first home décor visualization application


• Substitutes physical catalogs which are costly, heavy and restrictive in merchandizing


• Offers huge product collections and variants for any level of interior designing


• Allows sorting by space, theme, colour and product category


• Offers high quality visualization in relevant environments


• Allows independent pitching for sales with login ID and password to anyone, anywhere


• Helps copyright by time bound login to prevent sharing and copying


• Offers free shipping for most products listed in the catalog


• Supports for turn-key project implementation in key cities


• Allows creating quotations at consumer end with features of tracking quotations and invoice


• Offers sales reporting and task management system

Flipspaces offers two categories of licenses – Diamond and Platinum. Diamond is priced at rupees sixty thousand per year while Platinum is priced at rupees ninety thousand per year. The cloud based application is also accompanied with two other important modules to simplify accounts and sales analytics with some advanced features and they come with Flipspaces free of cost.