Flipspaces Raises Rs 50 Crore From Ashiana Fund To Expand Business

Startup Flipspaces, which provides design and building solutions for commercial spaces, has raised Rs 50 crore from Asiana Fund to expand its business. In May, Flipspaces raised $35 million (around Rs 297 crore) from investors. In a statement on Thursday, Flipspaces said that Asiana Fund has joined as an investor with a Rs 50 crore ($5.9 million) investment.

Asiana Fund is sponsored by Jalaj Dani, one of the promoters of Asian Paints.

The fresh capital will help Flipspaces in its next phase of growth across India, the US, and the UAE, strengthen its technology and explore inorganic growth opportunities in new geographies and adjacent categories.

"Asiana team's collective experience of over 10 decades in scaling operations and building customer-centric brands will be invaluable to Flipspaces. Our core team will benefit tremendously from their insights and assistance," Kunal Sharma, founder and chief executive officer of Flipspaces, said.

Founded in 2015, Flipspaces serves enterprises, startups, and SMEs (small and medium enterprises) seeking agile, future-ready interiors.