Home Design company interior design: Flipspaces to multiply its activity in the United States by 5 next year thanks to strong growth

interior design: Flipspaces to multiply its activity in the United States by 5 next year thanks to strong growth

Interior design tech startup Flipspaces has seen its US vertical grow 35 times over the past six quarters and is looking to aggressively expand the team and geographic reach both in design and build and in the industry. ‘SAAS offering in the United States, Kunal Sharma, Founder and CEO of Flipspaces told ET.

“We are looking to grow our business in the United States fivefold over the next 12 months,” said Sharma. “In a short time, we created a strong global presence with dedicated offices in Mumbai, Bangalore and more recently in Boston. A $ 100 billion commercial design and build market in the United States also offers a better margin profile in the technology design and build segment. . ”

Additionally, he stated that VIZSTORE’s offering is a SaaS product for third-party furniture and home furnishings brands. This VR-enabled SaaS product was first widely used and validated as part of the internal technical suite, he said.

“VIZSTORE aimed to virtualize the experience of visiting a physical store in the furniture and furnishings segment. Since launching earlier this year, VIZSTORE has received a tremendous initial response and has several well-known brands and customers on its list. Our vision is that VIZSTORE will be the virtual twin for every physical showroom of the brand or furniture and accessories retailer (FNF), becoming the experiential Shopify for this industry, ”he said.

Powered by gamification and virtual reality, VIZSTORE enables customers to navigate the virtualized showroom environment and experience and view products as they would in a physical showroom experience. In addition, it allows customers to modify products and finishes in the environment.

“This enables retailers and FNF brands to reduce their real estate costs for product showcasing and enables them to lead omnichannel commerce with unprecedented VR-enabled technology combined with an online shopping toolkit. This is a paid product from the In this perspective, we are looking to extend the technological functionalities and to extend our offer to the American market where SaaS products have empirically played a more important role and a better margin profile ”, a Sharma explained.

He said the company’s ticket size is 10 times that of other new age interior design startups like Livspace and Homelane, and a market size that’s roughly 4 times that of these players, with India and the United States combined. The average size of the company’s banknotes is Rs 10million and above. The company’s revenue is also expected to reach pre-pandemic levels in the third quarter, which is this quarter, with EBITDA-level profitability, Sharma said.

Flipspaces has executed several projects and worked on over 5 million square feet of commercial space. The company’s renowned MNC clients include companies like BSH, Aditya Birla, Oppo, P&G while working with Unicorns, Soonicorns and fast growing startups like Bharatpe, Razorpay, Indwealth, Open Money, Nobroker, Bounce, Playsimplegames . It also leveraged the technology suite to facilitate partnerships with commercial space owners and developers like Lodha, Godrej, Tata Realty, Mahagun, Brigade, Salarpuria Sattva, and so on for a total area of ​​over 1 , 5 million square feet in various commercial real estate projects.

The company has raised a total of $ 3.5 million through its Series A and Pre-Series B rounds. The main investors are Carpediem Capital and a consortium led by Prashasta Seth, the former CEO of IIFL AMC .