Flipspaces – The perfect match between interior design and technology
Flipspaces is a design and technology company focused on technology to solve multiple stakeholder challenges in interior design and furniture and home furnishing procurement globally. Powered by a multi-module technology stack, the technology platform envisions creating a global platform to design and deliver retail spaces and is currently backed by CarpeDiem Capital along with a consortium of investors led 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 RanjanFlipspaces focuses on the multi-billion commercial interior design and construction market in India and the United States.
The goal of interior design is to think outside the box, while keeping the end goal in mind. The Flipspaces team envisions the future of technology-driven interior design that powers the customer journey by making it experience-driven rather than information-driven. Since their inception, they have leveraged the use of technology with the single vision of being the world’s leading design technology brand by bringing together the three disjointed aspects of design, product and delivery, thus providing a outstanding experience to clients looking to design their space.
With a proprietary and one-of-a-kind technology stack called VIZWORLD, they are building a house of SAAS products to solve existing problems and inefficiencies in the real estate, home decor, and affiliate product industry. With this transformative technology suite, they hope to establish a single integrated technology engine that drives efficiency and customer satisfaction at every step of the process by automating processes and improving customer experience respectively. Additionally, they also recently rolled out VIZSTORE – a SAAS product for furniture and home furnishings brands, manufacturers and retailers. Powered by virtual reality and gamification, it enables home furnishings retailers to walk their end customers through a virtual showroom environment where customers can experience and view products with the click of a button. It also helps brands and retailers reduce their product display and real estate costs and helps them drive omnichannel sales with unprecedented VR-enabled technology.
“With an increased push on technology, we are moving closer to the vision of becoming a SAAS product house. Each of these products with the Vizworld technology suite is first created and tested in-house, to drive organizational efficiency in our own design and build verticals. Going forward, the vision is to deploy them as SAAS offerings for third-party stakeholders. Similarly, our first such SAAS offering, Vizstore, is experiencing a phenomenal response in the furniture and home furnishings retail market,” says Kunal with visible excitement for the future.
Kunal explains, “What is unique to our business is the size of the mandates we execute and the gross margins we achieve. The fundamentally robust unit economics have allowed us to scale the business while remaining profitable even at the EBITDA level.As a leader in technology-driven commercial design and construction, we have a ticket size 10 times that of other interior design startups, a market size 8 times that of other players, with India and the United States combined, and a more modeled ecosystem of products and delivery.In an otherwise execution-heavy company, which is the typical perception of the design industry interior we are able to scale without compromising on time or quality due to the category we operate in and the supply chain and delivery mechanism we have developed to operate in a e transparent to climb. Our unit’s economics are much stronger than most or all funded players and therefore result in a much better return on invested capital. Additionally, with the expansion of its US footprint and the creation of a business unit in the GCC, Flipspaces is living its vision of becoming a global design technology brand.
With its technology-driven vision, Flipspaces technology platform now covers more than 5 million square feet of retail space globally for renowned businesses among enterprises, start-ups, multinationals, brands of retail and SMBs 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 USA. The company targets categories in commercial-type offices, retail, hospitality, education and healthcare facilities, among others, and provides a one-stop technology solution to its customers for the design and construction.