Livspace, a Bangalore based online home design and decor startup has launched its ‘Home Design Automation Platform’. This will allow the startup to automate complete design workflow, generate invoices through ecommerce integration and provides online 2D and 3D designs.
With this, it aims to create 30,000 ‘Design Entrepreneurs’ in India. The platform will enable 10x faster project turnaround time and increase earning potential to 6 times more for interior designers.
Livspace was founded in 2014 by Anuj Srivastava and Ramakant Sharma. It is an end-to-end home design and decor service provider and curated marketplace for homeowners and designers. It lets customers discover thousands of interior designs by color, material and style.
The founders are also inviting interior designers and design studios to join the ‘Livspace Home Design Partner Programme,’ which will be available only in the metros. The programme will offer customer access, free usage of its design automation platform, Livspace studios, and project management support to design homes in 12 weeks. With this, homeowners can get access to designers across geographies, and can collaborate more effectively with designers.
Related Article: TPG Growth, Goldman Sachs Lead $70 Mn Series C Funding In Livspace
Positioning itself as the top player, Livspace grows by ten times in FY 2015-16 and the platform will help the company grow by another 3-5 times in the next 12 months.
Anuj Srivastava, CEO and Co-founder of Livspace, said, “Our platform is inspired by some of the most popular technology platforms worldwide in the on-demand transport, travel accommodation, and mobile industry in terms of its potential, capabilities and sophistication. The inherent fragmentation in the interior design industry limits business scale, earnings potential, and consistent customer experience. “
In September 2015, Livspace had raised $8 Mn in an internal round of funding led by Helion Ventures, Jungle Ventures and Bessemer Venture Partners. Earlier, it had also raised an undisclosed amount from Gokul Rajaram, who joined the startup as its Special Advisor.
The Indian Home Design industry is currently valued at $25 Bn. In India alone, the home design & decor market is poised to grow to over $45 Bn by 2017 from $13 Bn in 2010 fueled by the 25% Y-o-Y growth in the organized retail sector. Of this, the modular kitchen, wardrobe, storage business itself will be over $10Bn by 2017. Also, within the next 2 years, 4-5% of this market is poised to move online.