Online startup Livspace raises Rs 100 cr; Anuj Srivastava says will reach $100 mn revenue by Dec 2017

By: | Published: August 30, 2016 6:26 AM

Online home design and decor start-up Livspace has raised R100 crore from existing investors Bessemer Venture Partners, Helion Venture Partners and Jungle Ventures in a series C funding, the company said in a statement.

The firm was founded a year ago by Anuj Srivastava, a former senior executive at Google Inc and Ramakant Sharma, formerly with Mantra Designs. With this funding, the total funds raised by the company has gone up close to million, Srivastava told FE.(Reuters)The firm was founded a year ago by Anuj Srivastava, a former senior executive at Google Inc and Ramakant Sharma, formerly with Mantra Designs. With this funding, the total funds raised by the company has gone up close to million, Srivastava told FE.(Reuters)

Online home design and decor start-up Livspace has raised R100 crore from existing investors Bessemer Venture Partners, Helion Venture Partners and Jungle Ventures in a series C funding, the company said in a statement.

The firm was founded a year ago by Anuj Srivastava, a former senior executive at Google Inc and Ramakant Sharma, formerly with Mantra Designs. With this funding, the total funds raised by the company has gone up close to $28 million, Srivastava told FE.

He said the company will be able to reach a revenue of $100 million by December 2017. The company aims to utilise the fresh funds to expand its geographical presence in Pune, Hyderabad and Chennai. It aims to open additional experience centres in Delhi, Bengaluru and Mumbai during the next one year.

Its headcount will be increased by another 200 people to take it to 600 employees, he added.

Livspace also announced the launch of Home Design Automation Platform, which is claimed to be the first in the country. It combines the power of end-to-end design automation and e-Commerce integration to transform the lives of designers and experience of consumers. The company also sells furniture across the living room, bedroom and kitchen space.

The home design market in India is pegged at $25 billion and 95% of it is in the unorganised sector, according to Srivastava.

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