Livspace CBO Lalit Mittal exits after co-founder departure and mass layoffs

Home décor and interior design company Livspace has seen another senior leadership exit, as Chief Business Officer Lalit Mittal has left the company following the recent departure of co-founder Saurabh Jain.

Mittal has decided to pursue his own entrepreneurial journey after spending around six years at Livspace. In a media statement, the company said that the transition took place over a month ago.

Mittal joined Livspace in November 2019 as Senior Director of Business Initiatives. He was subsequently promoted to AVP, later led Livspace Select as its CEO, and was elevated to the role of Chief Business Officer in January 2022.

The move follows Livspace’s confirmation of co-founder Saurabh Jain’s exit and multiple rounds of layoffs affecting over 1,000 employees in recent months. The company said it has deployed advanced AI agents to take over several tasks that were previously handled manually.

Founded in 2014 by Anuj Srivastava, Ramakant Sharma, and Saurabh Jain, Livspace operates in the home interiors and renovation segment and has expanded its presence across multiple Indian cities and international markets. The company has raised over $450 million in funding from investors including KKR, Jungle Ventures, and Venturi Partners. It entered the unicorn club in 2022 following a funding round led by KKR.

For the fiscal year ending in March 2025, Livspace reported revenue of Rs 1,460 crore, while narrowing its losses by 42% during the year. It operates across India, Southeast Asia, and the Middle East.