Livspace, a Home design and renovation platform, announced that the company has raised about $60 million. The company gets investments from Hong Kong-based Tahoe Investment Group, and Singapore-domiciled Mercer Investments and EDB Investment, along with Kharis Capital, a European investment management firm and Venturi Partners’ managing director Nicholas Cator, as per their regulatory filings sourced from Singapore.
The funding will have investments in multiple allotments, which is likely to last until February and estimates suggest that the funding could go up to $90-$100 million, people familiar with the matter said, as per a media report. Livspace has raised about $150 million till date, according to share allotment disclosures made by the company. The company has raised $70 million in 2018, led by TPG Growth and Goldman Sachs.
The current funding round closure at Livspace indicates that investors are increasingly betting on specialised vertical marketplaces to place large bets as they believe these companies are better poised to deliver profitable returns.
Livspace managing to raise funding comes at a time when the market for a horizontal player has, more or less, been capped with Walmart-owned Flipkart and Amazon.com. The company was founded in July 2014 by IIT Kanpur alumni Anuj Srivastava, formerly of Google and Ramakant Sharma, formerly of Myntra.
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