Livspace, a Bengaluru, India-based home interior and renovation platform company, closed a $70m Series C funding round.
The round was led by global investment funds TPG Growth and Goldman Sachs, with participation from existing investors Jungle Ventures, Bessemer Venture Partners and Helion Ventures.
Founded in 2014 and launched in Bengaluru in 2015 by consumer-Internet industry veterans Anuj Srivastava and Ramakant Sharma, Livspace is an Internet company focused on India’s fragmented home interiors and renovation market.
Its marketplace brings together homeowners and a curated community of designers and vendors. Homeowners gets access to interiors for all rooms in a home, designed and delivered in a predictable, hassle-free manner. In 2016, the company launched Canvas, a design-to-installation platform for the interior design industry.
Livspace currently serves seven metro areas in India including Bengaluru, Mumbai, Delhi and Hyderabad.
The company will use the funds to expand its operations to 6 more Indian metro areas by 2019 for a total of 13, to grow its offline presence through Livspace Design Centers, its experiential stores, to continue to invest in the growth of its design partner community, which includes interior designers and small design studios, as well as its vendor community which comprises brands, contractors and service partners.