About 23spaces
23spaces is a Technology company based in Mumbai (India) founded in 2011. Mobile apps for social information and travel discovery are developed. 23spaces has raised $6.56 million across 3 funding rounds from investors including Blume Ventures. 23spaces was last valued at $2.42 million in February 2014. Its Indian entity Spaces23 Software Labs Private Limited reported revenue of ₹4.6 Lakh. Its focus areas include Consumer, Mobile App Studios and Mobile.
Company details
23spaces was established in 2011 in Mumbai, India, as a mobile app studio in the technology sector. Two applications have been created: Focal, which facilitates the organization and contextual discovery of curated information, and Polo, which supports the curation and exploration of travel experiences. Seed funding was secured from Blume Ventures to support operations focused on internet-based social products.
- Headquarters Mumbai, India
- Stage Minicorn
- SectorsTechnology
- Website 23spaces.com
- Social LinkedIn X
- Legal Name Spaces23 Software Labs Private Limited
- Date of Incorporation 13 Jul, 2011
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹4.6 Lakh
FY 2017 · -85% YoY
- Net Loss-₹2.2 Lakh
FY 2017 · -47% margin
- EBITDA-₹94,776
FY 2017 · -21% margin
- Total Equity Funding$6.56M (USD)
in 3 rounds
- Latest Funding Round$97.19K (USD), Seed
Feb 2014
- Investors
Associated legal entities of 23spaces
23spaces operates through Spaces23 Software Labs Private Limited (strike off). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2017) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Spaces23 Software Labs Private Limited CIN U72300MH2011PTC219765 | Strike Off | 13 Jul 2011 | Mumbai, Maharashtra | ₹0.0 Cr | 1 | 4 | View details |
Funding Insights of 23spaces
23spaces has successfully raised a total of $6.56M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $97.19 thousand completed in February 2014. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $6.56M
- Total Rounds 3
- Last Round Seed — $97,187
- First Round $6.26M
(Jul 2012)
- Investors Count 1
All 3 funding rounds of 23spaces with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2014 | $97,187 | Seed | $2.42M | Blume Ventures | – |
| Jul 2013 | $207,671 | Seed | $1.56M | Blume Ventures | – |
| Jul 2012 | $6.26M | Seed | – | Blume Ventures | – |
| Date | Valuation | Stage |
|---|---|---|
| Feb 2014 | $2.42M | •••••••• |
| Jul 2013 | $1.56M | •••••••• |
Last known valuation $2.42M (Feb 2014). 1 investors in total: 1 institutional.
Investors in 23spaces
23spaces has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Blume Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Seed and early-stage investments are made across sectors in India. | blume.vc | Mumbai, India |
Investor details for 23spaces
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Spaces23 Software Labs Private Limited (23spaces)
Spaces23 Software Labs Private Limited is the primary company behind 23spaces. The board of Spaces23 Software Labs Private Limited currently have 4 directors; the longest-serving is Vipul Kumar Shaily, appointed in 2011. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Vipul Kumar Shaily DIN 03351212 | Director | 13 Jul 2011 | 15 yrs 3 mo | Spaces23 Software Labs Private Limited |
| Nitin Hayaran DIN 03352096 | Director | 13 Jul 2011 | 15 yrs 3 mo | Spaces23 Software Labs Private Limited |
| Rohit Sai Muppidi DIN 01777947 | Director | 13 Jul 2011 | 15 yrs 3 mo | Spaces23 Software Labs Private Limited |
| Adit Pankaj Parekh DIN 03628184 | Additional Director | 10 Feb 2014 | 12 yrs 8 mo | Spaces23 Software Labs Private Limited |
Financials of 23spaces
Figures of Spaces23 Software Labs Private Limited, the primary company behind 23spaces, for FY 2017. Revenue was ₹4.6 Lakh (-85% year on year). Net loss was -₹2.2 Lakh (-47% margin). EBITDA was -₹94,776 (-21% margin).
- ₹4.6 LakhRevenue · FY 2017 · -85% YoY
- -₹2.2 LakhNet loss · -47% margin
- -₹94,776EBITDA · -21% margin
- ₹1.3 LakhPaid-up capital
- 1Employees (provident fund records)
Balance sheet, profit and loss, cash flow and ratios of Spaces23 Software Labs Private Limited are on its company page.
Detailed financial statements for 23spaces
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of 23spaces
4 dated milestones of 23spaces across 3 years, from founding to its latest funding, stage changes and deals.
- Founded 23spaces is founded.
- Funding First funding round of $6.3M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $97K.
Top companies in Mobile App Studios
2 companies that operate in the same segment as 23spaces (Mobile App Studios) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Mobile content services, including music, are provided across APAC. | 2000 | Bengaluru, Karnataka, India | USD 46.3 M | USD 55.1 M | 397 | |
Offers IT solutions including mobile apps, web, eCommerce, and blockchain development. | 2011 | Ahmedabad, Gujarat, India | USD 4.14 M | 1 |
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Frequently Asked Questions about 23spaces
23spaces was founded in 2011 and raised its 1st funding round 1 year after it was founded.
23spaces is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
23spaces is a funded company, having raised a total of $6.56M across 3 funding rounds to date. The company's 1st funding round was a Seed of $6.26M, raised on Jul 2012.
The primary company behind 23spaces, Spaces23 Software Labs Private Limited, reported revenue of ₹4.6 Lakh for FY 2017, down 85% year on year.
23spaces was established in 2011 in Mumbai, India, as a mobile app studio in the technology sector. Two applications have been created: Focal, which facilitates the organization and contextual discovery of curated information, and Polo, which supports the curation and exploration of travel experiences. Seed funding was secured from Blume Ventures to support operations focused on internet-based social products.
23spaces has 1 investor. Key investors include Blume Ventures.
The valuation of 23spaces is $2.42M as of Feb 2014.
23spaces operates through Spaces23 Software Labs Private Limited.
The legal entities of 23spaces currently have 4 directors, including Vipul Kumar Shaily, Nitin Hayaran, Adit Pankaj Parekh and others.