Livspace acquires unicorn status after KKR-led USD 180 million funding
Livspace, a home interior and renovation platform, has reportedly secured USD 180 million during a Series F funding round that was led by KKR, entering the prestigious unicorn club at a USD 1 billion valuation.
The round also saw participation from Ingka Group Investments, Venturi Partners, Jungle Ventures, and Peugeot Investments. Livspace intends to use the fresh funds to expand its services in India as well as international, cited sources with relevant information.
KKR’s expertise in global markets followed by a strong brand name will allow the firm to scale its business significantly in the upcoming years, Livspace co-founder and CEO Anuj Srivastava claimed. The company will also focus on improving its product suite as well as investing in people and technology.
The CEO further claimed that the home interior and renovation platform will double down on brand development in Singapore and India while also investing in establishing a digitally integrated supply chain. Livspace might also expand to the Middle East, North Africa, and Australia, where the renovation space is still highly fragmented.
Gaurav Trehan, KKR India partner and CEO mentioned that the group is looking forward to leveraging its technological and operational expertise along with a wide global network to aid in Livspace’s continued growth.
For those unaware, Livspace connects designers, home improvement experts, and contractors on a single platform to offer services to end consumers. The company has a presence in over 28 Indian cities including Mumbai, Delhi/NCR, Bangalore, Chennai, and Hyderabad among others.
Livspace is now the fifth unicorn since the beginning of this year, and the 49th firm to reach USD 1 billion valuation since January 2021. The company will now look to penetrate deeper into India, with a goal of operating in at least 70 cities by the end of next year.
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