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Interior design is the art and science of enhancing the interior of a building to achieve a healthier and more aesthetically pleasing environment for the people using the space which results in better management of the space available in the intervened environment to transform the lives of people who live or enjoy a certain space, improving their quality of life in this through design and decoration. Livspace company helps people to connect with these interior designers.
Livspace - Company Highlights
| Startup Name | Livspace |
|---|---|
| Headquarters | Bangalore, India |
| Industry | Interior design |
| Founded | 2014 |
| Founders | Anuj Srivastava and Ramakant Sharma |
| CEO | Anuj Srivastava |
| Total Funding | ~ $191.7 Million |
| Area Served | India |
| Website | livspace.com |
Livspace - About and How it Works?
Livspace - Logo and its Meaning
Livspace - Founder and History
Livspace - Mission
Livspace - Recent News
Livspace - Business Model
Livspace - Funding and Investors
Livspace - Acquisitions
Livspace - Revenue and Growth
Livspace - Partnerships
Livspace - Awards and Recognitions
Livspace - Competitors
Livspace - Challenges Faced
Livspace - Future Plans
Livspace - Conclusion
Livspace - FAQs
Livspace - About and How it Works?
Livspace is a personalized home design and decor marketplace that connects interior designers, vendors, and customers. It allows users to discover and customize designs and styles, place the order and get the looks delivered and installed for the living room, bedroom, dining room, modular kitchen, and modular wardrobe.
Livspace uses a combination of data science, algorithms, and industrial design, enabling customers to discover a variety of interior designs for all types of rooms, personalize the design by colour, material, style and get the exact look for their homes.
Livspace - Logo and its Meaning
Livspace company Tagline is "Design your home like a minimalist."
Livspace - Founder and History
In July 2014, Livspace was founded by IIT Kanpur alumnus Anuj Srivastava, who was previously with Google, and Ramakant Sharma, who was previously with Myntra.
"At an early stage, investing in building a culture of autonomy may not seem critical but these things tend to stick as you grow. So, think about culture early," said Srivastava.
Anuj and Ramakant, Livspace founders and college friends, were just like any other homeowner—they simply wanted good interiors. Instead, they got a rather appalling experience. It started with trouble in finding the right professionals. It ended with the realization that even after spending a lot of time and money one could never be sure of a fair price, quality or even the final result.
In December 2015, Livspace company introduced its private label of modular kitchens and wardrobes and rolled out services in Bengaluru, New Delhi and Mumbai. In 2016, Livspace launched its home design automation platform for interior designers and announced its design partner community program. The startup later opened four offline design stores with virtual reality setups in Bengaluru, Delhi, Gurugram and Mumbai. In 2018, Livspace announced expansion of its services to Hyderabad.
Rishabh Rathi
Livspace - Mission
Livspace company's mission statement says,
"The home that you always wanted is the home you deserve. Livspace helps you realize that dream with interior design that's beautiful, reliable, and created just for you."
Livspace - Recent News
- Livspace starts livCare for employees amid Covid-19 second wave.
- Livspace expands to 4 new cities, i.e. Kolkata, Ahmedabad, Jaipur and Kochi.
- Home design startup Livspace snags investment from Ikea group.
- Livspace receives INR30 Cr as debt from Trifecta.
- Livspace to invest $30M to scale Neo platform, start modular labels.
- Livspace Nets $90M To Expand In Asia.
Rishabh Rathi
Livspace - Business Model
By connecting vendors and designers to homeowners, the platform is acting as a marketplace for home design. It charges a commission or margin fee for all transactions, which range from INR 1 Lakh to over INR 50 Lakh. Livspace operates as a three-sided marketplace, connecting home-owners with designers and suppliers of home design products and services.
Livspace - Funding and Investors
Livspace has raised a total of $191.7M in funding over 8 rounds. Their latest funding was raised on Oct 2, 2020 from a Debt Financing round. Livspace is funded by 17 investors. Trifecta Capital Advisors and Mercer Investments are the most recent investors.
| Date | Round | Amount | Lead Investors |
|---|---|---|---|
| Oct 2, 2020 | Debt Financing | ₹300M | Trifecta Capital Advisors |
| Sep 3, 2020 | Series D | $90M | Kharis Capital, Tahoe Investment Group, Venturi Partners |
| May 20, 2019 | Venture Round | - | IKEA |
| Sep 19, 2018 | Series C | $70M | Goldman Sachs, TPG |
| Dec 22, 2016 | Debt Financing | - | Trifecta Capital Advisors |
| Aug 29, 2016 | Series B | $15M | Bessemer Venture Partners |
| Aug 11, 2015 | Series A | $8M | Bessemer Venture Partners, Helion Venture Partners |
| Dec 17, 2014 | Series A | $4.6M | Bessemer Venture Partners, Helion Venture Partners |
Livspace - Acquisitions
Livspace has acquired 3 organizations. Their most recent acquisition was YoFloor on Sep 10, 2015.
| Acquiree | Date | Amount | About Acquiree |
|---|---|---|---|
| YoFloor | Sep 10, 2015 | - | Home Design platform using Interactive 3D models |
| Dwll IN | May 19, 2015 | - | Dwll.IN is a curated network of interior designers. |
| DezignUp | Mar 30, 2015 | - | Online community for home designers and home products |
Vidhi Punamiya
Livspace - Revenue and Growth
- Livspace company has raised $191.7M in funding and is on the verge of the unicorn club
- With revenue of INR 80.17 Cr in the year, Livspace saw 96.3% growth in income
- Livspace company’s losses grew to INR 145.5 Cr, a 53.5% Y-o-Y increase in FY19
During Covid-19, Livspace had laid off around 450 employees as the company’s operations were hampered as it’s experience centers and last-mile operations were severely impacted due to the restrictions imposed by the government.
Livspace, a six-year-old startup, conceptualized by Anuj Srivastava and Ramakant Sharma, has so far designed over 20,000 homes. Livspace currently serves nine metro areas in India (Bengaluru, Chennai, Hyderabad, Delhi, Gurgaon, Noida, Mumbai, Thane and Pune) and expanded into APAC with its Singapore market entry in October 2019. Livspace also expands to four new cities in India (Kolkata, Ahmedabad, Jaipur and Kochi).
Livspace is backed by the likes of TPG Growth, Goldman Sachs, Bessemer Venture Partners, Jungle Ventures and Helion Venture Partners, the company has raised $191.7 million across equity and debt rounds.
Livspace - Partnerships
Livspace partnered with Brand Capital, the strategic investment arm of The Times Group, and was able to create a strong brand presence. The brand targeted urban consumers focusing on working professionals in top metropolitan cities seeking assured quality and timely delivery of services. The company utilized a good mix of print ads, radio campaigns and strategically located OOH properties offered by the Times Group, leading to a strong top-of-mind recall. This partnership created a valuable impact to build awareness and establish credibility.
Chayanika Goswami
Livspace - Awards and Recognitions
- Livspace was on the list of most innovative companies in the world, 2017 by Fast Company, an American technology, business and design magazine.
- Livspace was one of the winners of Red Herring Top 100 Global 2018 awards presented by Red Herring, a technology business magazine.
Livspace - Competitors
Livspace company's top competitors include At Home Group, Pepperfry, Urban Ladder, Flipspaces Design Labs, RentoMojo, Stokers, HomeLane and American Furniture Warehouse.
Livspace - Challenges Faced
Livspace, a home interior designing startup, has seen losses soar by nearly five times in financial year 2016-17, even while revenues more than doubled. The company, registered as Home Interior Design E-commerce Pvt Ltd, saw revenues increase to INR 22.4 crore from INR 9.1 crore the previous year, while losses increased to INR 47.7 crore from INR 9.8 crore in the same period.
PV Vyshnavi
Livspace - Future Plans
Home interiors and renovation platform Livspace has entered the Singapore market. Through a six-month-long pilot, the startup said that it already has a $15 million gross revenue run rate and is growing at 25% month-on-month.
Livspace is also investing $30 million to grow its business in Singapore – drive demand, hire talent, build design experience centers and develop a regional supply chain.
"Over the next 30 months, we aim to build Livspace into a US$500 million business operating across APAC and solve the renovation problem for tens of thousands of homeowners. Singapore marks the first step in our APAC growth and will serve as the headquarters for our global expansion,” said Livspace’s CEO and Co-Founder, Anuj Srivastava.
Livspace - Conclusion
Livspace is an interior design startup that offers a platform that connects people to designers, services, and products and allows users to buy customized wardrobes, modular kitchens and other interiors. Determined to never let another homeowner experience the misery, they created Livspace. Launched in 2015 in India, Livspace is now the trusted brand for complete home interior design for thousands of homeowners.
Livspace - FAQs
Is Livspace an Indian company?
Yes, Livspace is an Indian Company.
Who founded Livspace?
In July 2014, Livspace was founded by IIT Kanpur alumnus Anuj Srivastava, who was previously with Google, and Ramakant Sharma, who was previously with Myntra.
Who is the current CEO of Livspace?
Anuj Srivastava is the CEO of Livspace.
How does Livspace make money?
Livspace charges a commission or margin fee for all transactions, which range from INR 1 Lakh to over INR 50 Lakh.
Author: Sarika Anand
Source : https://startuptalky.com/livspace-success-story/
Date : 2021-06-02T15:25:00.000Z