The funding round was also joined by existing investors such as Jungle Ventures, Venturi Partners, Ingka Group Investment, and Peugeot Investment.
With the fresh infusion of funds, Livspace will launch its operations in new markets, double down on brand building in Singapore and India, and continue investing in its technology and platform. The funds will also be channeled towards strategic investments into innovative companies.
According to Anuj Srivastava, Chief Executive and Co-founder Livspace, “A significant portion of the funds will go into expanding in newer geographies including the UAE and Middle East, and further expansion in Singapore and India. We are also advancing our plans to start evaluating venturing into Australia and it will be a very important geography for us.”
He added, Livspace will be investing in online mass media-oriented brand building, starting with Singapore and India, following which “you will also see us building strategic relationships, and making mergers and acquisitions as we are really looking to consolidate the market”.
“Our investment in Livspace extends KKR’s long term commitment to Indian consumers made through our growth technology strategy in India,” said KKR India Partners and CEO Gaurav Trehan.
Livspace has recently bought a majority stake in a Singapore-based home remodeling and design platform, Qanvast that connects homeowners and home professionals. According to Anuj Srivastava, future acquisitions will also be either focused on the consolidation of Livspace’s brand or content companies that will help in building its brand.
Founded in 2014 by Ramakant Sharma, Anuj Srivastva, and Shagufta Anurag, Livspace is operated by Home Interior Design E-Commerce Pvt. Ltd. offers a platform that connects people to designers, products, and services.
Livspace offers end-to-end home interior services. Its online shopping platform is a destination to find design, decorate, and furnish dream houses so that they can undertake renovations like kitchen upgrades or repainting a room.
The company claims to be the market leader in the home renovation space in all its launched markets across India and the Asia Pacific. Singapore-registered Livspace claims to have raised US$450 million to date.