How This Virtual-Reality Firm Is Powering Smart Interiors

by CXOtoday News Desk    Sep 01, 2016

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For any business to start generating revenue, it would be safe to assume that it would need external funding first, to start operations and eventually generate funds thereof. However, in the case of FlipSpaces, they generated revenue of UDS 1 million within 3 months, that too without an external investor putting in their money.

The Virtual-Reality based firm started by former IIT alumni, aims to bring the technology to Interior Designing in India, whereby consumer buying experience is set to change for the better, by giving them a detailed virtual view of what their product purchases will be like, if setup in reality. As Kunal Sharma, the Founder-Director of Flipspaces Technology explains, “It gamifies the interior designing experience for the consumer putting the control of interior-design in the hands of the consumer.”

To explain how FlipSpaces managed to generate the revenue that they did, Prafful Sahu, Partner and Head of Technology at FlipSpaces said, “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.”

Satisfied customer Rajan Parasuraman, Managing Director of GyanMatrix said, “FlipSpaces’ Virtual Reality Application was a key decision influencer in choosing FlipSpaces as our Interior Design Partner to create a truly world class office.”

Smeet Gala, Founder-CEO of Workamp, also lent words on the company, saying “Office design by FlipSpaces and Gloob was great for a co-working concept. They worked on the psyche of a potential co-worker and helped design spaces that could promote collaboration in spaces which has worked out really well for us. In the first 25 members itself we are looking at member companies doing business with each other. A general feedback has also been about the space infusing creativity and helping each co-worker to increase their productivity of work while working from WorkAmp.”

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 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. This also helps do away with the huge physical catalogs, which décor companies have to handle.

The web based application is designed exclusively for home/office décor market targeting new office buyers and tenants, developers, architect and interior designers among other industry players. It can also emerge as a strong platform for all vendors, suppliers and other major stake-holders in home décor industry. The Venture is looking to generate $15 Million in a year in terms of gross revenues and is on its way to announcing tie ups with major builders and industry leaders towards VR-led Design and Execution.