Livspace raises $70 million in Series C funding led by TPG Growth, Goldman Sachs

Home interior and renovation platform has raised $70 million in Series C funding led by TPG Growth and Goldman Sachs. The round also saw participation from existing investors such as Jungle Ventures, Bessemer Ventures and Helion Ventures.

LivSpace will utilise the funds to expand its operations to six more areas by 2019 while achieving deeper penetration in existing markets. It also plans to grow offline footprint through its design centres, and it will continue to invest in the growth of its design partner community and vendor marketplace. The company competes with HomeLane, Urban Ladder and Pepperfry.

“We are thrilled to partner with TPG Growth and Goldman Sachs in our journey. Their understanding of global markets and deep expertise in accelerating growth-stage companies will help us build the next edition of Livspace,” said Anuj Srivastava, co-founder and CEO, Livspace.

“Livspace is a company that is disrupting the fragmented interior-design-and-renovation ecosystem in India. We are confident that their approach has tremendous potential to extend across several markets,” said Akshay Tanna, Principal, TPG Growth.

Avendus Capital was the financial advisor to the company for the latest round.

“This investment is in line with our focus on backing excellent management teams that uniquely address the needs and aspirations of India’s growing middle class,” said Niladri Mukhopadhyay, Managing Director, Goldman Sachs.