Livspace, the omnichannel home interior and renovation platform has raised $180 million in its Series F round at a unicorn valuation. The round was led by KKR & Co. with participation from existing investors such as Ingka Group (Ikea), Jungle Ventures, Venturi Partners, and Peugeot Investments.
The new investment is a more than two-fold jump in the seven-year-old company’s valuation which was valued at $500 million in December 2019. Livspace plans to use the capital for global expansion, brand building, and mergers and acquisitions, the company said in a press release. The company is planning to expand its services to UAE, the Middle East, and eyeing entering the Australian market as well.
Bengaluru-based Livspace allows homeowners to discover pre-created looks for rooms, kitchens and storage areas on its platform. Customers can choose and buy the designs, which can also be customized. The company also has partnerships with property developers and it offers pre-created, ready-to-install interior designs for those who buy homes from its partner property developers.
The company is currently present in 28 cities in India, including Bengaluru, Delhi/NCR, Mumbai, Hyderabad and Chennai. It aims to expand its footprint to cover 65 to 70 cities by the end of 2023.
Founded by Anuj Srivastava and Ramakant Sharma, Livspace generates about 79% of its revenue from India and the remaining from Singapore. As per the company, it expects international markets to contribute half of the company’s total sales.
Two months ago, Livspace had acquired a majority stake in Qanvast, a Singapore-based home remodelling and design platform. Livspace has announced a strategic investment in Singapore-based Qanvast to bolster its home interior and design services in the region.
Livspace has become the 50th unicorn since January 2021 and 7th in 2022.
