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Flipspaces, a commercial interior design and contracting venture backed by Carpediem Capital, plans to pursue inorganic expansion by making 2 to 3 acquisitions within the next three years in adjacent categories such as hospitality, healthcare, and education.
These acquisitions are a crucial part of the company’s expansion strategy to establish a presence in key real estate growth hubs, including Delhi NCR, Hyderabad, Chennai, Ahmedabad, and Pune, according to Kunal Sharma, Founder and CEO of Flipspaces.
Emphasising the company’s focus on geographical expansion rather than category diversification, Sharma stated, “Mergers and acquisitions are pivotal to Flipspaces’ geographical expansion strategy, allowing us to leverage established entities with significant market presence and proven track records instead of starting from scratch.”
Additionally, as the interior design firm considers an IPO within the next 18 to 36 months, these acquisitions align with its plans to list on the main board. “This prospect is particularly appealing to certain founders, as partnering with us enhances their scalability potential, facilitates capital raising, and ensures liquidity,” he noted.
Founded in 2015, Flipspaces is an interior designing firm specifically targeting the SME sector, operating as a strategic business unit (SBU) that allows it to function across various geographies. Currently, with offices in Bengaluru, Mumbai, and New York, the start-up aims to expand to Hyderabad by March 2025. Flipspaces has achieved profitability at the EBITDA level while maintaining a 65 per cent compound annual growth rate (CAGR) over the past three years.
The start-up has raised $7.5 million in equity and is backed by Carpediem Capital, Prashasta Seth, and the MGA Family Group. Recently, Flipspaces ventured into the design and build of mid- and large-sized projects. Its clientele for mid- and large-sized designs includes TCS, BFIL, and Firstsource among its clients.
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Published on November 1, 2024
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