Flipspaces, a startup that provides design and building solutions for commercial spaces, has raised $35 million (approximately Rs 297 crore) from investors to expand its operations.

The company announced on Wednesday that it has "raised $35 million in primary and secondary capital, led by tech growth investor Iron Pillar and supported by existing backer, Prudent Investment Managers, and incoming Synergy Capital." 

This capital raise will be used to accelerate growth in India, the United States, and the UAE, strengthen technology, and investigate inorganic growth opportunities in new geographies and adjacent categories.

Flipspaces offers a fully integrated, tech-first design and building solution for SMB (Small and Medium Business) spaces, which account for roughly 60% of the commercial interior design and build market.

"We are developing a technology-led brand with the goal of transforming the customer experience in commercial design and construction around the world. Our conviction is in scaling quickly and sustainably, driven by a replicable, tech-powered delivery model that balances growth and profitability," said Kunal Sharma, Flipspaces' Founder and CEO.

Flipspaces has achieved a CAGR of over 65 percent over the last four years while maintaining profitable execution, delivering over 8 million square feet of commercial space to 1000+ brands in India and the United States.

Carpediem, Flipspaces' early-stage investors, exited the round as well.