Design

Flipspaces- The perfect match between interior design & Technology

Flipspaces is a design-tech venture which is focused on technology solving multiple stakeholder challenges within the space of Interior Designing and Furniture and Furnishing buying globally. Powered by a multi-module tech stack, the technology-enabled platform envisions building a global platform to design and deliver commercial spaces and is currently backed by CarpeDiem Capital along with a consortium of investors headed by Prashasta Seth, EX-CEO, IIFL AMC and Founder of Prudent Investment Managers.

Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, PraffulSahu, and Ritesh Ranjan,Flipspaces focuses on the multi-billion commercial interior design and build market in India and the US.

The aim of interior design is all about thinking outside the box, while keeping the end brief in mind. The team at Flipspaces forese the future of interior design driven by technology powering the customer journey by making it experience driven instead of information driven. Since their inception, they’ve leveraged the use of technology with the single vision of being the leading global design tech brand by bringing the three disjointed aspects of design, product and delivery together thus offering a superlative experience to the customers looking out to design their space.

With an integrated proprietary first-of-its-kind tech stack called VIZWORLD, they are building a house of SAAS products to solve the existing problems and inefficiencies of the real estate, interior design and affiliated products industry. With this transformative tech-suite, they hope to establish a single integrated tech engine that generates efficiency and client satisfaction at every stage of the process by automating processes and enhancing customer experience respectively. Furthermore, they’ve also recently rolled out VIZSTORE – a SAAS product for furniture and furnishing brands, manufacturers and retailers. Powered by Virtual Reality along with gamification, it allows furnishing retailers to make their end customers walk through a virtual showroom environment where the customers can discover and visualize products at the click of a button. It also helps the brands and retailers to cut down on their cost of showcasing products along with real estate and helps them drive omnichannel sales through an unprecedented VR-enabled tech.

“With increased impetus on technology, we are getting closer to the vision of becoming a house of SAAS products. Each of these products with the Vizworld technology suite are first created and tested in-house, in order to drive organizational efficiency in our own design and build verticals. Subsequently, the vision is to roll them out as SAAS offerings for third party stakeholders. In the same light, our first such SAAS offering, Vizstore, is seeing a phenomenal response in the furniture and furnishing retail market,” says Kunal with visible excitement about the future.

Kunal explains, “What is unique to our business is the size of mandates we execute and the gross margins we command. Fundamentally robust unit economics has allowed us to scale the business while remaining profitable even at the EBITDA level. As a tech-led commercial design and build leader, we have a ticket size that is 10X of other Interior Design startups, a market size 8X of the other players, with India and US combined, and a more templatised product and delivery ecosystem. In an otherwise execution heavy business, which is the typical perception of the interior design industry, we are able to scale without compromising on time or quality because of the category we operate in and the supply chain and delivery mechanism we have developed to seamlessly operate at scale. Our unit economics are much stronger than most or all the funded players and thus results in far better Return on Capital Invested. Additionally, with footprint expansion in the US and setting up a business unit in GCC, Flipspaces is living its vision of becoming a global design tech brand.”

On the back of their tech-driven vision, Flipspaces tech-platform has now catered to over 5+ million sqft of commercial spaces globally for renowned companies across corporates, start-ups, MNCs, retail brands and SMEs such as BSH, NoBroker, Open Financial, Times Group, Aditya Birla, InstaOffice, BharatPe, Nivea, Oppo, P&G, Reebok, Royal Enfield, Razorpay, Bounce and PlaySimpleGames in India and the US. The venture targets categories across commercial-like offices, retail, hospitality, education and health care institutions among others and provides a one-stop, tech-enabled solution to its clients for design and build.

About the author

Getprofitam

Leave a Comment