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Flipspaces raises $1.15 million debt funding from UCIC, Alex Group of Companies

Flipspaces, a 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.

The company use the funds for growing its domestic business units, global expansion and enhancement of Virtual Reality (VR) technology.

“We, at Flipspaces, aim to establish ourselves as a de facto brand for the real estate expansion management of commercial spaces across different Small and Medium Enterprises (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 technologies,” Kunal Sharma, CEO and Founder of Flipspaces said.

Flipspaces helps customers to discover a property mapped to their needs using consultative approach at the discovery stage. Potential SME customers can further visualise their virtual office environment by leveraging VR-technology.

In January 2019, Flipspaces secured a $3.5 million from Carpediem Capital in a series A funding. Since its inception in 2015, Flipspaces has executed projects of revamping more than 3 million sq ft of commercial spaces for various Fortune 100 companies, it said in a statement.

Source: The Hindu