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Flipspaces, an interior design and build company for commercial spaces, has raised $2 million in funding in a round led by Prashasta Seth, former CEO of IIFL AMC. The round also saw participation from prominent family groups and funds.
The company will use the fresh funds to expand its operations on the West Coast of the US. Flipspaces is currently operational in the US and India, and has designed and built projects for a variety of clients, including Google, Microsoft, and Amazon.
"We are excited to partner with Prashasta Seth and other prominent investors to help us expand our operations in the US," said Flipspaces co-founder and CEO, Ankit Agarwal. "We believe that there is a significant opportunity to grow our business in the US, and this funding will allow us to accelerate our growth."
Flipspaces uses technology to streamline the interior design and build process. The company's platform allows clients to visualize their projects, get quotes from contractors, and track the progress of their projects.
"Flipspaces is a unique company that is disrupting the traditional interior design and build industry," said Prashasta Seth. "I am excited to be a part of this company and help them achieve their growth goals."
The funding round comes at a time when the commercial real estate market is booming. The US commercial real estate market is expected to grow by 5% in 2023, and the demand for interior design services is expected to grow along with it.
Flipspaces is well-positioned to capitalize on this growth. The company has a strong team of experienced designers and builders, and its technology platform is a valuable asset. With the new funding, Flipspaces is well-positioned to become a leading player in the commercial interior design and build industry.