FlipSpaces, a VR-Tech Startup for Interior Design Generates $1 Million Revenue in Just 3 Months Time Without Any Seed Funding
Started by IIT alumni and gaming gurus, FlipSpaces has integrated virtual reality technology into interior designing. The startups claims to generate $1 Million in revenue in three months without any external aid or a seed fund push.
“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 look like in virtual environment similar to their own. FlipSpaces aims at being a major change catalyst in redefining the product buying experience in Office/Home décor & improvement section. It gamifies the interior designing experience for the consumer putting the control of interior-design in the hands of the consumer,” said Kunal Sharma, Founder-Director, FlipSpaces Technology.
When asked about how this revenue has been generated without any external forces, Ritesh Ranjan and Prafful Sahu, Partner and Head of Technology says, “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. All you have to do is, prove your mettle and revenue follows automatically”
FlipSpaces allows users to choose from over a lakh of products and trillion room environments on a floor plate which is a replica of their office or home. The application can generate photo realistic images of spaces at a speed which is 500 times faster than any other used applications in the domain.
Interior products and services chosen by users through the application are supplied and sourced from own manufacturing unit and a curated set of service and product vendors allowing for process driven scale. FlipSpaces also allows users to generate the exact cost-estimate for services and products chosen by them real-time thus letting them have a check on their budget.
Interior designs and catalogues can now be better sold through virtual reality. Customer will get the same look they see in the VR. Thanks to this technology we can now do away with the heavy catalogues.
The startup is looking to generate $15 million and tie up with as many builders and industry leaders as possible.
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.
Virtual Reality (VR) is the way to go ahead for startups, unlike e-commerce, investors are keen to invest in this technology.
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