Home interior and renovation platform, Livspace has raised $180 million in a new round of funding led by private equity fund KKR, which values the company at $1.2 billion. Existing investors also participated in this funding round including Ingka Group Investments (part of largest IKEA retailer Ingka Group), Jungle Ventures, Venturi Partners, and Peugeot Investments, among others.
The company will use the capital to expand overseas, deepen its presence in core markets such as India and to widen its product offerings.
“As the largest player in this industry, we look to expand our spectrum of new offerings for the homeowner, create the best technology for our marketplace partners, and deliver dream homes to our customers across all geographies. With the fresh investments, we are well set up to launch new solutions for homeowners and become the go-to platform brand for all things home.” Ramakant Sharma, Co-founder and COO of Livspace, said.
Livspace is an interior design marketplace that connects interior designers, vendors and customers across India and Singapore. They provide end-to-end home interior services across 15 cities and counting both in India & Singapore.
“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,” Anuj Srivastava, cofounder and CEO, Livspace, said.
They are a design and technology-first start up and employ a combination of data science, algorithms, and design to create unique experiences for homeowners and scale the job of interior designers.
KKR looks to draw on our deep technological and operational expertise, as well as our regional and global network, to support Livspace’s continued growth,” Gaurav Trehan, partner and CEO, KKR India, said.
Livspace currently serves Singapore and Malaysia, as well as 30 metro and non-metro areas in India.