Carpediem Exits Interior Design Startup Flipspaces With 9X Return

PE firm said it scored 40% internal rate of return (IRR) on the investment.  Carpediem had invested $1.8 Mn in Flipspaces in December 2018

Carpediem claimed that Flipspaces scaled its revenue 11X during this period, expanded into the US market (which now contributes 20% of revenue), and executed projects for clients like TCS

Flipspaces reported a net loss of INR 8 Cr on an operating revenue of INR 190 Cr in FY24, eyeing a public listing in 2026

Mumbai-based PE firm Carpediem Capital has exited Flipspaces with 9X…