Livspace, an interior design startup that connects people to designers, services and products, announced that it has raised $90 million in funding led by Kharis Capital and Venturi Partners, according to the ETtech report.
Peugeot Group’s holding company FFP, Pidilite Group, and Singapore-based EDBI also participated in the funding round, along with existing investors Ingka Investments, TPG Growth, Goldman Sachs, UC-RNT, and Bessemer Ventures.
The Company will use the funding to enter dozens of new cities, including Lucknow, Kolkata and Ahmedabad. It is also evaluating countries such as Australia, Malaysia and Indonesia and the Middle East as next markets where the interior and renovation industry is equally fragmented.
Founded by Anuj Srivastava, Ramakant Sharma and Shagufta Anurag, Livspace takes end-to-end ownership of a housing project right from design to manufacturing to installation. The business also operates brick-and-mortar design studios.
“We have done two things uniquely: first, digitization of large and complex home improvement industry verticals, and, second, integration of thousands of contractors, designers, and home improvement professionals as well as the largest brands and OEMs in this space,” said Ramakant Sharma, cofounder of Livspace. “This playbook has helped us expand rapidly and efficiently across markets,” he added.
“Their strength lies in the deep moats that they have created in areas such as their technology innovation, brand salience, ever-expanding supply chain and ability to build attractive unit economics across markets,” said Nicholas Cator, Managing Partner of Venturi Partners.
Earlier in 2018, Livspace had raised $70 million led by TPG Growth and Goldman Sachs. Till now, the company has raised about $200 million.
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