Flipspaces scores $50 mn in funding

MUMBAI: Flipspaces has bagged $50 million in series C funding which has been raised in tranches. A bunch of new investors such as UAE-headquartered CE-Invests, Singapore-headquartered Panthera Growth Partners and Japan-headquartered SMBC Asia Rising Fund have now come on board.The round also facilitated the exit of the startup’s early-stage investor Carpe Diem.The capital will be deployed to scale the business in India, the US and the UAE, deepen supply chain integration and enhance the company’s proprietary technology stack with AI led interventions. Strategic acquisitions in adjacent categories are also on the roadmap.Founded in 2015, Flipspaces offers interior design services to offices.Flipspaces’ ability to scale profitably across India and the USA, while deploying AI and VR to transform a traditional sector, exemplifies the kind of opportunity we are committed to backing,” said Ghada Abdelkader, Senior Vice President of CE-Invests.