Livspace

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Livspace
IndustryInterior design
Founded2014
Founder(s)
  • Anuj Srivastava
  • Ramakant Sharma
Headquarters
Bangalore
,
India
Area served
India
Websitewww.livspace.com

Livspace (pronounced as li-v-space), is a home interior and renovation company head-quartered in Singapore. It provides interior design and renovation services in Singapore and India.[1][2] The company was founded in 2014 by Anuj Srivastava and Ramakant Sharma[3] and has raised a funding of $200 million.[4]

History[edit]

Livspace was founded in July 2014 by IIT Kanpur alumni Anuj Srivastava, formerly of Google and Ramakant Sharma, formerly of Myntra. In December 2015, the company introduced its private label of modular kitchens and wardrobes and rolled out services in Bengaluru, New Delhi and Mumbai.[5] In 2016, Livspace launched its home design automation platform for interior designers and announced its design partner community program.[6] The startup later opened four offline design stores with virtual reality setups[7] in Bengaluru, Delhi, Gurugram and Mumbai.[8][9] In 2018, Livspace announced expansion of its services to Hyderabad.[10]

Operations[edit]

Singapore[edit]

Livspace launched its Singapore operations in October 30, 2019.[11][12] The company partnered with IKEA in Singapore to offer renovation services to their customers and set up pop-up stores in IKEA Tampines and IKEA Alexandra.[13][14] In 2021, Livspace opened a joint renovation studio with IKEA in Jurong Point.[15]

India[edit]

Livspace launched its operations in India in 2014. The India head-quarter is situated in Bangalore.[1] It has two services for the customers, namely Livspace Select (for modular products) and Livspace Vesta (full home interiors). [16][17]

Livspace operates in these cities:

  • Ahmedabad
  • Bengaluru
  • Chennai
  • Coimbatore
  • Delhi
  • Gurugram
  • Hyderabad
  • Indore
  • Jaipur
  • Kochi
  • Kolkata
  • Lucknow
  • Mangalore
  • Mumbai
  • Mysore
  • Noida
  • Pune
  • Surat
  • Thane
  • Vijayawada
  • Visakhapatnam

It has 22 Experience Centres across the country including India’s largest experience centre in Marathahalli, Bangalore spanning 23,000 sq ft.[2][18]

Acquisitions[edit]

In March 2015, Livspace acquired DezignUp, a design community and marketplace for an undisclosed amount.[19] Later in the same year, the brand announced its acquisition of Dwll.in, an online network of designers and home decor stores.[20] In September 2015, Livspace acquired YoFloor, a mobile and virtual reality platform for home design.[21]

Funding[edit]

  • In December 2014, Livspace raised US$4.6 million (Series A) from investors Helion Venture Partners, Jungle Ventures, and Bessemer Venture Partners.[22]
  • In July 2015, it was announced that Gokul Rajaram of Square would be taking on a special advisory role in the startup and had made an angel investment.[23]
  • In August 2015, the startup raised another $8 million in its Series A extension funding round from existing investors Helion Venture Partners, Jungle Ventures, and Bessemer Venture Partners.[24]
  • In August 2016, Livspace raised US$15 million from Bessemer Venture Partners as part of its Series B funding.[25]
  • According to reports in 2018, the company raised an additional $6 million investment as part of the same round.[26]
  • In 2018, the company secured US$70 million in its series C round led by TPG Growth, Goldman Sachs and other existing investors.[27][28]
  • In May 2019, the Ingka group, strategic partner in the IKEA franchise system, invested in Livspace.[29]
  • In 2020, Livspace completed its series D round led by Kharis Capital, Tahoe Investment Group and Venturi Partners.[30][31]

Awards[edit]

  • Livspace was on the list of most innovative companies in the world, 2017 by Fast Company, an American technology, business and design magazine.[32]
  • Livspace was one of the winners of Red Herring Top 100 Global 2018 awards presented by Red Herring, a technology business magazine.[33][34]
  • Co-Founder Ramakant Sharma won India's Hottest Young Entrepreneurs award by BW BusinessWorld, an Indian business magazine, in 2017.[35]
  • Ramakant Sharma was on the list of 50 most influential young Indians in 2018 published by GQ India, the Indian edition of the American monthly magazine published by Conde Nast.[36]
  • Livpsace won the Design Excellence Award (Silver) for Best Residential Design in 2020[37][38]

References[edit]

  1. ↑ www.businesstimes.com.sg https://www.businesstimes.com.sg/garage/news/home-interior-platform-livspace-plans-to-invest-us30m-to-grow-singapore-business. Retrieved 2021-08-01. {{cite web}}: Missing or empty |title= (help)
  2. ↑ Bureau, BW Online. "Home Design Platform Livspace To Invest $30 M In Singapore". BW Businessworld. Retrieved 2021-08-01.
  3. ↑ Kanth, K. Rajani (2015-08-17). "Dream decor for dream homes". Business Standard India. Retrieved 2021-08-01.
  4. ↑ India, Press Trust of (2020-09-03). "Livspace raises $90 mn in round led by Kharis Capital, Venturi Partners". Business Standard India. Retrieved 2021-08-01.
  5. ↑ Ganguly, Payal (2015-12-28). "Livspace enters modular kitchen and wardrobe segments, to roll out services in Bengaluru, Delhi, Mumbai". The Economic Times. Retrieved 2018-08-22.
  6. ↑ Bureau, BW Online. "Livspace Announces Plan to Create 30 000 Design Entrepreneurs in India". BW Disrupt. Retrieved 2018-08-22.
  7. ↑ "Small firms snap up VR opportunity to assist home-owners in designing, selection". @businessline. Retrieved 2018-08-29.
  8. ↑ "Livespace opens offline design centres, earmarks Rs 25 crore for more centres - Times of India". The Times of India. Retrieved 2018-08-29.
  9. ↑ "Small firms snap up VR opportunity to assist home-owners in designing, selection". @businessline. Retrieved 2018-08-29.
  10. ↑ "Livspace forays into Hyderabad; earmarks Rs 20 cr for expansion". @businessline. Retrieved 2018-08-29.
  11. ↑ Oct 30, PTI /; 2019; Ist, 17:57. "Livspace expands to Singapore, to invest $30 mn - Times of India". The Times of India. Retrieved 2021-08-01.{{cite web}}: CS1 maint: numeric names: authors list (link)
  12. ↑ "Home interiors startup Livspace enters Singapore, aims for a $500 million business in 2.5 years". Business Insider. Retrieved 2021-08-01.
  13. ↑ "Home interiors startup Livspace enters Singapore, aims for a $500 million business in 2.5 years". Business Insider. Retrieved 2021-08-01.
  14. ↑ hermes (2019-09-27). "Ikea rings up $341m in full-year revenue here". The Straits Times. Retrieved 2021-08-01.
  15. ↑ "First look: IKEA S'pore launches interior design studio in Jurong Point with move-in ready packages from S$9,900". mothership.sg. Retrieved 2021-08-01.
  16. ↑ Livspace. "Dream interiors made possible". Livspace India. Retrieved 2021-08-22.
  17. ↑ Livspace. "The finest choice in modular solutions". Livspace India. Retrieved 2021-08-22.
  18. ↑ Livspace. "Work With Livspace: You Design, We Deliver". Livspace India. Retrieved 2021-08-22.
  19. ↑ "In A Bid To Scale Up Its Decor Range, Helion Backed LivSpace Buys Design Professionals Community & Marketplace DezignUp - Inc42 Media". Inc42 Media. 2015-03-30. Retrieved 2018-08-22.
  20. ↑ Reporter, B. S. (2015-05-19). "Livspace buys online network of interior designers Dwll.in". Business Standard India. Retrieved 2018-08-22.
  21. ↑ "Livspace acquires mobile platform YoFloor". The Economic Times. 2015-09-10. Retrieved 2018-08-22.
  22. ↑ "SoftBank invests $90 m in Housing.com". @businessline. Retrieved 2018-08-29.
  23. ↑ "Square's Rajaram takes on advisory role at Livspace - Times of India". The Times of India. Retrieved 2018-08-22.
  24. ↑ Reporter, B. S. (2015-08-12). "Livspace raises $8 million from Helion, Bessemer, Jungle Ventures". Business Standard India. Retrieved 2018-08-29.
  25. ↑ "Online design & furniture startup Livspace gets Rs 100 crore from existing investors - Times of India". The Times of India. Retrieved 2018-08-29.
  26. ↑ "Livspace gets additional $6 m for tech upgrade". @businessline. Retrieved 2018-09-19.
  27. ↑ Bansal, Varsha (2018-09-19). "Livspace secures $70m in series C". The Economic Times. Retrieved 2019-05-02.
  28. ↑ "Livspace Raises $70 Million in Round Led by Goldman Sachs, TPG". www.bloomberg.com. Retrieved 2019-05-02.{{cite web}}: CS1 maint: url-status (link)
  29. ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2021-08-22.
  30. ↑ India, Press Trust of (2020-09-03). "Livspace raises $90 mn in round led by Kharis Capital, Venturi Partners". Business Standard India. Retrieved 2021-08-22.
  31. ↑ "Livspace(Home Interior Design E-commerce Pvt Ltd.)". 美股之家. 2021-04-18.
  32. ↑ "Livspace: Most Innovative Company". Fast Company. Retrieved 2019-05-02.
  33. ↑ "2018 Red Herring Top 100 Global: Winners". Red Herring. Retrieved 2019-05-02.
  34. ↑ "Livspace Wins Red Herring Top 100 Global 2018 Award". The Week. Retrieved 2019-05-02.
  35. ↑ Amin, Ruhail. "Redefining Indian Homes In Style". BW Businessworld. Retrieved 2019-05-02.
  36. ↑ "GQ's 50 Most Influential Young Indians of 2018". GQ India. 2018-12-05. Retrieved 2019-05-02.
  37. ↑ Livspace. "Livspace.com". Livspace.com. Retrieved 2021-08-22.
  38. ↑ "Design Excellence Awards 2020 | Programmes | Design Excellence Awards | IDCS". Interior Design Confederation Singapore (IDCS). Retrieved 2021-08-22.
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