Online home decor startup Livspace has secured $60 million in funding from Hong Kong-based Tahoe Investment Group, Singapore-domiciled Mercer Investments and EDB Investment. Kharis Capital and Venturi Partners’ managing director Nicholas Cator also participated in the round.
In the latest investment round, multiple allotments have been done and likely to close next month at around $90-$100 million, said an Economic Times report.
The fresh capital for the company has come after a gap of 16 months. In September 2018, it had raised $70 million in its Series C round led by private equity firm TPG Growth and Goldman Sachs.
So far, the Bengaluru-based company has gathered about $150 million funding from investors including Bessemer Venture Partners, Singapore-based Jungle Ventures, Helion Venture Partners and the recent investors.
Floated by Anuj Srivastava and Ramakant Sharma, Livspace lets customers discover thousands of interior designs by colour, material, and style. It uses design, data science technology, and catalogues to create looks that help homeowners visualize their homes before making an online purchase.
Livspace helps homeowners discover pre-created looks for rooms, kitchen and storage areas. Users can also get tailor-made designs by visiting Livspace’s offline studios.
The six-year-old company’s official website claims to have served more than 20,000 customers to date. It offers above 2000 interior designs and 12000 products of modular storage, home improvement services and furniture, among others.
At present, the company is operational in cities including Bengaluru, Gurugram, Noida, Mumbai, Pune, Thane, Delhi, Hyderabad, and Chennai.
Livspace directly competes with Sequoia Capital-backed HomeLane as well as MyGubbi and very remotely with Pepperfry and UrbanLadder.