Unbelievable? Well, read on. Most of the start ups focus on getting initial funding. The entire business plan is to get various rounds of funding and a possible exit at some point. However, this Virtual Reality Startup in India, clocked $1.5 million in revenue in less than 4 months without seed funding.
FlipSpaces, Headquartered in Mumbai, is a virtual reality startup in India. It hit $1.5 million in revenue with a rocketing speed. This revolutionary startup enables their customers on how their proposed home or office would look like. FlipSpaces plans to become the pioneer in redefining the buying experience of the users in the home decor segment.
Relevant Read: What is Virtual Reality.
How it is done?
Kunal Sharma, Founder director explained,”We gamify the interior designing experience for the consumer using Virtual Reality. As a result, it directly puts the consumer in the driving seats while doing the interior designing.”
“FlipSpaces believes in making their customers as their funders,” says Ritesh Ranjan/Prafful Sahu, Partner and Head of Technology,”We are in a market of high value transactions. FlipspacesVR is about making a truly world class product that addresses the pain points of our enterprise customers.” Proves his point that, if you have a great and powerful idea with good execution plan, revenue will follow.
The venture is planning to generate a revenue of $15 million in a year. Sure it will, as it is already on its way to announce major tie-ups with Builders and Industry Leaders.
Market Size and Process
The technology led interior design and execution for the office real estate is an estimated $ 3 billion plus market in India. FlipSpaces says, using Virtual Reality was a key decision that transformed the solution they planned.
Their solution is pretty simple. Simply speaking, the user recreates his office or home using Virtual Reality and starts to play around with various products and services. As a result, she is able to see how her home or office would look in future.
“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 photo-realistic images of spaces at a speed which is 500 times faster than any other application in the domain.”
The web based platform caters exclusively for home/office decor market. It is targeting new office buyers/tenants, developers, architect and interior designers. Hence, it can also emerge as a strong platform for all vendors, suppliers and other major stake-holders in home decor industry.
Flipspaces have their manufacturing unit for supplying interior products and services chosen by the customer. It is at the forefront of backward integration of business with a curated set of service and product vendors allowing for process driven scale. Not only that, FlipSpaces also allows users to generate the exact cost-estimate for services and products. All of this when done in a real time, leads to customer delight.
FlipSpaces is a brainchild of Gloob Interior Design. Gloob is a 4 years old 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. It is also one of the fastest growing Interior Design and Contracting Venture in the Startup and MSME segment.
Stay tuned as we bring more such amazing stories from Virtual Reality Startup in India.