Home interior design marketplace Livspace has raised Rs 100 crore from Bessemer Venture Partners and Singapore-based Jungle Ventures, along with Helion Venture Partners.
The company will use the funding for expansion in new cities and expansion on the design automation platform across designers. It will also be used to set up new Livspace design studios with VR technology, strengthen the catalogue depth, launch new modular products, and further optimise the backend technology.
Speaking on the investment, Amit Anand, Founding and Managing Partner, Jungle Ventures, said,
“Anuj and Ramakant are top tier entrepreneurs who’ve created a truly pioneering idea out of India. It’s truly extensible across many cities across the world as the problem they’re solving is unique, pertinent, and fragmented the world over. I have only seen them go from strength-to-strength and create an enviable team, a customer experience, and scale not seen before in the industry.”
The money will also be used to launch in new cities, including Mumbai and Gurgaon by the end of 2016, and Pune by the start of 2017. Livspace is currently operational in three large metro cities, including Bangalore.
“We’re already seeing thousands of designers and partners who have expressed interested in getting certified on our platform which will help create the most capital efficient, technology driven, and asset light model for the end-to-end home design industry,”
said Anuj Srivastava, cofounder, and CEO LivSpace
In July 2016, Livspace 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.