Online home design start-up Livspace, which is run by Home Interior Designs E-commerce Pvt. Ltd, has raised Rs.100 crore from existing investors Bessemer Venture Partners, Jungle Ventures and Helion Venture Partners. Other existing investors Jungle Ventures and Helion Ventures Partners also participated in this latest round.
Livspace has already raised about $12.6 million in two rounds between December 2014 and August 2015 from Helion Venture Partners, Bessemer Venture Partners and Jungle Ventures.
The Bengaluru-based company will use the fresh capital to enter new cities, increase its offline experience centre studios and expand its team. It is looking to enter Mumbai, Noida and Gurugram this year and expand further into Pune and Hyderabad by early next year.
Livspace operates an offline studio in Bengaluru which works as an experience centre for consumers. The company plans to add another half a dozen stores in Delhi, Mumbai and Bengaluru. While Livspace’s core business is to offer home interior design solutions, it has also started selling furniture along with modular kitchen and wardrobe offerings.
Livspace has acquired three start-ups in quick succession to fuel growth. In September 2015, it acquired YoFloor, a mobile platform that offers a virtual trial room for home design. In May last year, Livspace bought Dwll, a curated online network of online designers. In March 2015, the firm acquired DezignUP, an online community and marketplace for designers and consumers.
Started by Anuj Srivastava, a former Google executive, and Ramakant Sharma, an ex-Myntra executive, Livspace competes with players such as Urban Ladder and Homelane, among others.