· The firm says the acquisition would fuel the growth and expansion of its design & delivery technology platform to a larger architect and interior design network.
May 2022: Interior design tech startup, Flipspaces has announced that it has acquired Renomania, a platform for end customers to comprehensively discover and engage with Architects, Interior Designers and Brands. The acquisition is a 100% sale of the platform’s assets, database and all technology and related IP.
Renomania, founded by Navneet Malhotra and Ritu Malhotra, has developed a web-based platform for architects, interior designers and contractors who are present on the platform with their detailed portfolio including their extensive body of work, for end-customers to interact and engage with. It offers a unique platform to draw home styling inspiration while working on a design project.
Commenting on the development, Kunal Sharma, Founder and CEO, Flipspaces said, “The technology from Renomania gives a push to further evolve Flipspaces design tech stack to provide a platform characteristic to our design and build vertical where we can partner with interior designers and architects to create a global consumer facing interior design and product supply platform.
Founded in 2015 by Kunal Sharma, Ankur Muchhal, Vikash Anand, Mrinal Sharma, Prafful Sahu, and Ritesh Ranjan, Flipspaces focuses on the multi-billion interior design and build market in India and the US.Flipspaces is currently backed by CarpeDiem, a growth-stage PE fund and a consortium led by Prashasta Seth, Ex-CEO, IIFL AMC.
“We have been highly influenced by their vision for technology which is to drive transformation in all aspects of the design-and-build domain along with the rich pedigree of the founding team. We believe Flipspaces high entrenchment in the interior design community and their international footprint will help Renomania’s technology to find greater adoption,” says Navneet, Founder, Renomania.
Ever since its inception, Flipspaces has experienced exponential growth within a short span of time. It is now recognized for its tech-driven approach and has acquired the leading position in the design and build industry. It now boasts of a robust global presence with dedicated offices in New York, Boston, Mumbai, Bangalore and Ahmedabad.