Livspace Raises $180 Million In Latest Funding, Enters Unicorn Club
Livspace, an omnichannel home interiors platform, has raised $180 million in its latest funding round led by private equity fund KKR, which values the company at $1.2 billion. Existing investors such as Ingka Group Investments (part of largest IKEA retailer Ingka Group), Venturi Partners, Jungle Ventures, and Peugeot Investments, among others, also participated in the funding round.
With this funding round, Livspace is the newest entrant into the coveted unicorn club, startups with more than a billion dollars in valuation.
As per the startup, the freshly raised funds will be used to expand overseas, deepen its presence in core markets such as India and widen its product offerings. Additionally, the startup will continue investing in its technology and digitally integrated supply chain, as well as hiring talent across the board to support both new and existing businesses.
Livspace | Home Interiors And Renovation
Founded by Ramakant Sharma and Anuj Srivastava in 2014, Livspace is a Bengaluru-based interior design marketplace that connects interior designers, vendors and customers across India and Singapore. The startup provides end-to-end home interior services across Singapore and Malaysia, as well as 30 metro and non-metro areas in India.
Speaking about the growth of the startup, Anuj Srivastava, Co-founder and CEO of Livspace, said,
“Our business is growing exponentially in both India and Singapore, and we aim to replicate this playbook, launch new solutions and accelerate our launches across new markets with operations across APAC, MENA and Australia.”
The omnichannel home interior and renovation startup has delivered more than 100,000 rooms and is selling over 7.5 million items through its platform. As per Anuj, the business is likely to scale ten-fold in terms of revenues over the next 24-36 months.
In October 2021, the home interiors platform expanded to the Middle East, starting with Saudi Arabia, where it has formed a joint venture with the Alsulaiman Group (ASG).
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