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Livspace raises $180 mn in funding round led by KKR, turns unicorn

The company is looking to acquire younger startups and has already evaluated a few in the direct to consumer and content-oriented demand aggregator space

February 08, 2022 / 08:46 AM IST

Home and interior platform Livspace has raised $180 million in Series F round which was led by private equity group KKR with participation from existing investors such as Ingka Group Investments, Jungle Ventures, Venturi Partners, and Peugeot Investments, among others.

"One of the principal destinations for this capital will be in accelerating our new country launches," Anuj Srivastava, founder and chief executive officer, told Moneycontrol in an interaction.

The company is also looking to acquire younger startups and has already evaluated a few in the direct to consumer and content-oriented demand aggregator space.

In December, it acquired a majority stake in Singapore-based home decor firm Qanvast.

Besides India and Singapore, the company has operations in the Gulf countries and is looking at expanding to newer geographies across APAC, MENA and Australia.

"Our investment in Livspace extends KKR’s long-term commitment to Indian consumers made through our growth technology strategy in India. Anuj and Ramakant have been leaders in evolving the home renovation industry, and KKR looks to draw on our deep technological and operational

expertise, as well as our regional and global network, to support Livspace’s continued growth," said Gaurav Trehan, partner and CEO of KKR India.

KKR is making the investment in Livspace from its Asia next-generation technology strategy.

Livspace is KKR’s latest growth technology investment in Asia and adds to other recent investments in the region including India's Lenskart and China's moody and Adopt A Cow.

Lenskart and moody are eyewear startups while Adopt A Cow is a direct to consumer dairy company.

It has also invested in GrowSari an e-commerce platform serving micro small and medium sized enterprises in the Philippines besides KiotViet, a merchant platform for MSMEs in Vietnam.

Founded by Anuj Srivastava and Ramakant Sharma in 2015, Livspace delivers designs,  execution, renovation, and supply of materials, and fit out elements for bedrooms, living rooms, bathrooms and kitchens.
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Priyanka Sahay
first published: Feb 8, 2022 08:46 am