Livspace, an omnichannel platform for home interior design and restoration, announced on Monday that it had set aside $100 million to invest in and incubate businesses and content hubs across sectors for home furnishings, interior design, renovation.
A sizeable portion of this corpus is being fueled by the company’s most recent $180 million fundraise, which was disclosed in February of this year and was led by prominent private equity firm KKR. The company was valued at $1.2 billion by the funding, as per reported by The Economic Times.
Anuj Srivatsava, co-founder and CEO of the company, said that in order to increase revenue, the company will aim to engage in companies operating in various home improvement sectors, such as partial rehabilitation and business-to-business (B2B) modular material supply. Additionally, it will attempt to invest in companies that sell directly to consumers in the furniture and home improvement industries.
“Today a homeowner has a variety of problems and home interiors is just one manifestation,” Srivastava told ET. “There is an entire lifecycle that a homeowner goes through. So, we will be looking at complimentary categories to our core business including premium interiors and modular fitouts to name a few. We are also in an assortment of geographies such as Southeast Asia and are having early discussions in the Middle East. These acquisitions may give us market access, deepen our presence (in existing geographies) and save time towards building mindshare.”
Present in 40 locations across India, including international markets, Livspace aims to expand to 50 cities by the end of the year.
Livspace is a platform for home remodelling that was established in 2014 and offers homeowners renovation options from designing to final fulfilment. The platform assembles designers, brands, producers, and contractors to enable home renovations with an e-commerce-like experience.
Livspace is Asia’s largest and fastest-growing omni-channel home interiors and renovation platform. Using its proprietary technology, Livspace provides a one-stop renovation solution for homeowners—from design to managed last mile fulfilment for all rooms in a home. The platform has organised a fragmented industry, bringing together designers, brands, manufacturers and contractors to enable an eCommerce-like trusted and predictable experience.
Livspace currently serves Singapore and Malaysia, as well as 30 metro and non-metro areas in India. Livspace has showcased phenomenal growth since its launch, having delivered over 125,000 rooms and selling over 7.5 million SKUs through its platform.