While two companies await regulatory approvals for the acquisition, HomeLane said it has also raised Rs 225 crore (around $27 million) from existing backers and new investor Hero Enterprise in a fresh funding round.
Livspace, which raised $180 million in February 2022 from KKR and other investors, was last valued at $1.2 billion. The company has however denied such talks.
The company's EBITDA losses narrowed to 95.35 million Singapore dollars from 96.86 million Singapore dollars during the period under review.
Its revenue stood at Singapore dollar 101.75 million in the previous fiscal year. The figure rose by 85 percent to Singapore dollar 188 million, or around Rs 1,100 crore, during the last fiscal year.
The investments will help the company grow faster across international markets including India, Singapore, Malaysia, and the Middle East. Livspace will use its internal accruals, Anuj Srivastava, Co-founder and CEO of Livspace, told Moneycontrol
Livspace has joined the list of companies to shuffle its top brass to reward talent and recognise core members of the team and streamline and focus on expansion plans.
Kartikeya Bhandari, chief marketing officer of Livspace, shares why the company is adding the celebrity quotient to its communication.
Existing investors including Ingka Group Investments (part of largest IKEA retailer Ingka Group), Jungle Ventures, Venturi Partners, and Peugeot Investments also participated in the Series F funding round.
"Over the next few years my consumer will actually start utilising AR and VR and what is called metaverse in very immersive sort of formats"
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
Livspace looks to expand across 80 new cities globally starting with the APAC geography over the next 18-24 months.
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Founded in 2015 by Ramakant Sharma and Anuj Srivastava, Livspace provides a three-sided marketplace and a design automation platform that connects homeowners, certified designers and vendors.
Ingka Group is a strategic partner in the IKEA franchise system, representing 90 percent of total IKEA retail sales.
The funds will be utilised to expand its operations to six more areas by 2019 while achieving deeper penetration in existing markets
Founded in 2012, the company has raised USD 27 million in investments led by Helion Ventures, Bessemer Venture Partners and Jungle Ventures.
Online home design company Livspace today said it has raised Rs 100 crore from existing investors in a second strategic round (Series B) of funding.
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FabFurnish competes with well-funded startups such as Urban Ladder, Pepperfry and Livspace besides horizontal e-tailers like Amazon, Flipkart and Snapdeal. This would be Rocket Internet's maiden exit from an Indian portfolio firm.
The Series A2 internal growth funding will be used to fuel the rapid growth of the company across markets like India, Manila, Singapore and Dubai, it said in a statement.
After having acquired two companies in the home design space, Livspace open to acquisitions that help their strategy, said Anuj Srivastava , Co-Founder & CEO, Livspace.