19 September 2018, India:
Online home interior startup Livspace has raised $70 million in Series C round of funding. The funding round was led by private equity firm TPG Growth and Goldman Sachs. Existing investors Jungle Ventures, Bessemer Venture Partners and Helion Ventures also participated in the funding round.
The startup will use the fresh capital to expand it’s presence.
“In an industry that has traditionally struggled with scale, we have created a first-of-its-kind, design-to-installation technology platform and a marketplace model that is highly scalable. The model can inherently deliver strong unit economics. We are thrilled to partner with TPG Growth and Goldman Sachs in our journey. Their understanding of global markets and deep expertise in accelerating growth-stage companies will help us build the next edition of Livspace,” said Anuj Srivastava, Co-founder and CEO, Livspace.
“Livspace is a ground-breaking company that is disrupting the fragmented interior-design-and-renovation ecosystem in India. They’ve registered strong growth in a short period of time, and we are confident that their approach has tremendous potential to extend across several markets,” said Akshay Tanna, Principal, TPG Growth.
Avendus Capital was the financial advisor to Livspace in this transaction.
Livspace was founded by Anuj Srivastava and Ramakant Sharmaon 2014. It is a curated marketplace for homeowners and home designers that provides an end-to-end home design experience.
(Image – Livspace)