Following Singapore launch, home design startup Livspace raises US$60M Tahoe Investment, EDBI, others
Home design and renovation platform Livspace today announced that it has raised about US$60 million in funding from a host of investors, including Hong Kong-based Tahoe Investment Group and Singapore-based Mercer Investments, and EDBI, says an ETtech report.
European investment firm Kharis Capital, and Nicholas Cator, MD of Venturi Partners, also co-invested.
As per regulatory filings sourced from Singapore, this round could stretch up to US$90-100 million and is likely to be closed next month.
Livspace was founded in 2015 by former Google executives Anuj Srivastava and Ramakant Sharma, along with Shagufta Anurag. Livspace facilitates the interaction between customers and interior and home designers as well as with suppliers. It maintains delivery timelines serving the three target markets with a supply chain-supported backend.
The company is said to take end-to-end ownership of a housing project, right from design to manufacturing to installation. Aside from that, Livspace also operates an offline design studio.
To date, the Bangalore-based company has raised about US$150 million.
The last reported investment was in May last year from IKEA’s strategic partner Ingka Group (Sweden).
In 2018, the startup also raised Series C funding from private equity firm TPG Growth, Goldman Sachs, and Jungle Ventures, among others.
In 2016, the company raised US$15 million, led by Bessemer Ventures Partners, with participation from Jungle Ventures and Helion Venture Partners.
In October 2019, Livspace launched in its first international market in Singapore and had plans to make it the base for all Asia-Pacific markets, including Malaysia and Australia.