Behind the appearance of towering skyscrapers and contemporary designs lies a disintegrated world of interior design. Interior design and the associated supply chains for products and services form a largely fragmented market with a multitude of small and medium sized companies flooding the design and construction landscape. As a result, there is no de facto brand to design and execute large-scale commercial mandates. This forces business owners to deal separately with a large number of designers, suppliers and contractors.
Changing the course of the global interior design paradigm is Flipspaces – a commercial design and construction company powered by virtual reality. Leveraging their proprietary technology suite, Vizworld, Flipspaces envisions creating a global platform where interior designers, product and service providers can come together to deliver a seamless and differentiated experience to the customer looking to furnish its commercial space. Vizworld enables better cost, quality and time control by integrating the entire supply chain into a single platform while creating transparent scale.
Technology – a key enabler
The infusion of technology into the design and construction landscape has enabled Flipspaces to reinvent an organized and unified interior design and construction industry. Vizworld, Flipsaces’ exclusive technology suite, includes a product discovery platform, a design viewer compatible with virtual reality and gamification and an integrated design and project management system. Besides streamlining the design and construction process, the VR-based design and construction company also plans to become the integrated operating system for the furniture and furnishings industry. The company has incorporated over 750 home furnishing retail stores using Vizstore, a breakthrough technology that acts as a digital twin of retail stores.
“We truly believe we have a product that can transform omnichannel commerce in FnF
Category. With our presence in India and the US, and with an amalgamation of critical skill sets that are deep domain expertise and understanding of technology, we are uniquely positioned to solve this complex problem and build a SaaS business. very valuable from Vizstore,” says Kunal Sharma. Founder and CEO of Flipspaces.
Pave the way to world domination
Flipspaces is uniquely positioned in the design and construction landscape due to the size of the mandates it completes across the globe and the gross margins it achieves. The fundamentally robust unit economics has allowed the company to scale its business while remaining profitable even at the EBITDA level. As a leader in technology-driven commercial design and construction, Flipsaces has a ticket size 10 times larger than other interior design startups, a market size 8 times larger than these players, with l India and the United States combined, and a more streamlined product and delivery ecosystem.
In an otherwise execution-heavy business, Flipsaces has been able to scale without compromising on time or quality due to the category it operates in and the supply chain and delivery mechanism it has developed to operate in a large-scale transparency. Another key driver of Flipspaces’ growth would be referral-generated customer retention, which equates to around 60% of its current business, making it a popular brand among startups, MSMEs and multinationals. The tech-led design and build startup has a long repertoire of regular clients including The Address, No Broker, Opulence, Times Group, Aditya Birla, InstaOffice, Nivea, Oppo, P&G, Reebok, Royal Enfield and Razorpayin India and the United States.
eyes on the sky
Flipspaces has executed over 600 projects in India and USA covering over 6 million square feet. The design-and-build company expects revenue growth of around 2x by the end of FY22-23. Additionally, the company has grown 35x in the past 6 quarters in the US market.
Building on its strong growth momentum, Flipspaces aims to move towards a future of interior design with engaging and inclusive customer journeys. Through its integrated technology stack, the company’s single vision is to become the world’s leading design technology brand by bringing together the three disjoint aspects of design, product and delivery experience under one roof for its clients.
Flipsaces now has a fully operational commercial presence in the United States where it has grown significantly and validated the same business thesis of organizing the design and construction of small to medium sized commercial floor plates globally. With its presence now expanding across the country, the company has further strengthened its presence with its new office in New York. Additionally, the technology-focused design and build company has also begun hiring local talent for various roles spread across the design and build industry. The company aims to strengthen its presence in India and the United States ahead of its forays into other international markets.