Flipspaces, Backed by Carpediem, Aims for 2-3 Acquisitions in Next Three Years.

Flipspaces, a commercial interior design and contracting company backed by Carpediem Capital, is setting its sights on inorganic growth with plans to make 2 to 3 acquisitions over the next three years. The target sectors for these acquisitions include hospitality, healthcare, and education, as part of a broader strategy to establish a foothold in key real estate growth markets such as Delhi NCR, Hyderabad, Chennai, Ahmedabad, and Pune.

Kunal Sharma, Founder and CEO of Flipspaces, emphasized that the company's focus is on geographical expansion rather than diversifying into new categories. “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,” Sharma stated.

In line with its growth plans, Flipspaces is also considering an initial public offering (IPO) within the next 18 to 36 months. Sharma explained that this prospect is attractive to potential acquisition targets, as partnering with Flipspaces enhances scalability, facilitates capital raising, and provides liquidity.

Founded in 2015, Flipspaces primarily serves the SME sector and operates as a strategic business unit (SBU) across various geographies. The company currently has offices in Bengaluru, Mumbai, and New York, with plans to open a new office in Hyderabad by March 2025. It has achieved profitability at the EBITDA level and boasts a remarkable 65 percent compound annual growth rate (CAGR) over the past three years.

The startup has raised $7.5 million in equity financing and counts Carpediem Capital, Prashasta Seth, and the MGA Family Group among its backers. Recently, Flipspaces has expanded its offerings to include the design and build of mid- and large-sized projects, with notable clients such as TCS, BFIL, and Firstsource.

HBL