Mumbai: FlipSpaces, a young Startup by IIT alumni and gaming experts, is pioneering the concept of Virtual Reality for Interior Designing for both home and office workplace in India and has generated a revenue worth $ one million in a short span of only 3 months time. More surprisingly, the venture has been able to achieve this milestone without any external aid or funding, according to its core team.
FlipSpaces, headquartered in Mumbai, is India’s first revolutionary Virtual Reality Tech Company which enables people to visualize how products they are seeking to buy for their home or office space look like in virtual environment similar to their own. Mr Kunal Sharma, Founder-Director, FlipSpaces Technology said “FlipSpaces aims at being a major change catalyst in redefining the product buying experience in Office/Home décor and improvement section. It gamifies the interior designing experience for the consumer putting the control of interior-design in the hands of the consumer.” Mr Kunal Sharma an alumnus of IIT Bombay who is a serial entrepreneur and an angel investor.
FlipSpaces is a brainchild of Gloob Interior Design, a 4 years young leading Interior Design Venture by entrepreneurs with the pedigree of IIT and successful ventures behind them. Gloob has a majority market share in startup market in Mumbai and Bangalore and is a fast growing Interior Design and Contracting Venture in the Startup and MSME segment.
Commenting on how the venture has been able to achieve the revenue target without external funding, “Ritesh Ranjan / Prafful Sahu, Partner and Head of Technology said, “We believed right from the start in going against the tide and making our end consumers our funders. We are in a market of high ticket transactions and it was just about making a product which could truly address the pain points of the enterprise consumer. If you have a powerful idea you can generate good business without funding too.”
“FlipSpaces currently targets technology led interior design and execution for the office real estate which alone is an estimated $ 3 billion plus market in India with eyes on the residential and hospitality interiors market in the future”, said Vikash Anand, Director Sales and Marketing.
“FlipSpaces’ Virtual Reality Application was a key decision influencer in choosing FlipSpaces as our Interior Design Partner to create a truly world class office”, said Rajan Parasuraman, Managing Director, GyanMatrix.
Mr. Smeet Gala, Founder, CEO Workamp, an emerging co-working space in Mumbai added, Office design by FlipSpaces and Gloob was great for a co-working concept. They worked on the psyche of a potential co-worker and helped design spaces that could promote collaboration in spaces which has worked out really well for us, he added.
FlipSpaces allows users to choose from over a lakh of products and a mind boggling trillion room environments on a floor plate which is a replica of their office or home. The application can generate photorealistic images of spaces at a speed which is 500 times faster than any other used applications in the domain. The web based application is designed exclusively for home/office décor market targeting new office buyers and tenants, developers, architect and interior designers among other industry. players.
The Venture is looking to generate $ 15 million in a year in terms of gross revenues and plans to tie ups with major builders and industry leaders towards VR-led design and execution.
