Bangalore-based home design & decor startup, LivSpace has raised $8 Mn in an internal round of funding led by its existing investors Helion Ventures, Jungle Ventures & Bessemer Venture Partners.
The round also saw participation from prominent angels, including Gokul Rajaram, who had recently joined the company as a special advisor.
Livspace is a end-to-end home design and decor service provider and curated marketplace for homeowners and designers. It lets customers discover thousands of interior designs for all types of rooms, personalize the design – by color, material, style – to their liking, and get the exact look for their homes in a matter of weeks.
Launched in December 2014, by Anuj Srivastava, Ramakant Sharma and Shagufta Anurag, Livspace has already acquired two companies; DezignUp and Dwll.in.
The home design and décor market in India is estimated to be $30Bn and it is poised to grow at over 25% YoY to create a very large category that is largely fragmented today.
Speaking on the investment, Akash Goel, Vice President, Bessemer Venture Partners said, “The Indian end-to-end home design industry is very large but fragmented. It is heartening to see Livspace emerging as the disruptor and innovator in this category. We are impressed with the vision of the founding team and their ability to drive execution and are strongly supportive of their growth plans.”
The funds raised in this round will be used by the company to expand in metros in India, enhance design content and technology, hire senior level talent across verticals and build innovative mobile and designer oriented products.
Previously, LivSpace had raised over $4.5 Mn in its Series A round of funding.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.
