Livspace to invest Rs 70 crore on its designer partnership initiative

Bengaluru-based Livspace, which is into home design and renovation, has laid off 450 employees -- 15 percent of its total workforce -- due to an adverse impact of the coronavirus-induced lockdown. (Image: Moneycontrol)

Bangalore-based Livspace online home interiors and renovation platform on Friday announced that it will invest Rs 70 crore in its global designer partnership initiative.

A sum of Rs 25 crore will be invested through 2018 to further grow the footprint through smaller format design centres and experience apartments, the company said.

The company plans to invest across different segments, including on-boarding and certifying freelance designers and studios, engagement program, expansion across top metros.

Design partners get access to Livspace’s proprietary design platform, Canvas, which lets them design better and faster all in one place.

Livspace curates designers based on their skills, forte, experience, location, etc in a bid to ensure a uniform and high-quality consumer experience.

Founded in 2012, the company has raised USD 27 million in investments led by Helion Ventures, Bessemer Venture Partners and Jungle Ventures.

Anuj Srivastava, CEO of Livspace, said, “It is heartwarming to see freelance designers and small studios utilize the tools and services we have created and watched their productivity increase manifold. By 2022, we want to design one out of every 10 homes in Indian metros”

The Livspace design partner community contributes to 80 percent revenue.

It has recently launched four flagship Design centers in Bangalore, Delhi, Gurgaon, and Mumbai.

These centres allow customers to get expert consultation, experience interiors, visualize their home design in VR.