Two college friends decided to design their dream homes in 2014. They quickly realized that doing so would be difficult due to the fragmented nature of the interior design industry at that time.
Livspace 's remarkable journey from 2014 to unicorn status in February 2022.
Livspace, an interior design, and home renovation services company was founded in 2014 by Ramakant Sharma and Anuj Srivastava.
This started in 2014 when they were designing their dream homes.
They ran into numerous issues while doing so, and they quickly realized the industry's pain points, which included identifying the right professionals, task coordination, a fair price, and the quality of the products used.
As a result, they decided to solve all of these issues, and Livspace was born.
It's a three-sided marketplace that links homeowners with interior designers and producers of home design items and services.
It features the most comprehensive and largest product catalog. These products are also included in the company's proprietary 3D visualization software.
It has built a value chain, starting with product standardization, manufacturing, supply chain, payment infrastructure, design authoring, 3D visualization, and content discovery, using its deep dive ML mechanism.
All of these features have helped Livspace become the market leader, with the largest share of India's $20 billion interior design market.
Livspace is currently available in Singapore, Malaysia, and more than 30 Indian metro and non-metro locations.
Through its platform, they've worked with :
over 35000+ households,
delivered over 100000+ rooms,
and sold over 7.5+ million SKUs.
On the platform, they have over 1500 expert designers.
The company became a unicorn in February 2022 after raising roughly 180 million USD. Some of the top venture capital firms, including Jungle Ventures, Goldman Sachs, and KKR, have invested in the company.
These funds will be used by Livspace to accelerate its growth and extend its business in Asia Pacific, Australia, the Middle East, and North Africa.
The company's vision is to be the largest and most innovative interior design platform in the world.
An interesting fact: IKEA's first tech investment in India was in Livspace.